South Miami-based Larkin Community Hospital closed on the sale of a Hollywood nursing home for $16.1 million, Broward County records show.
High Ridge Management Corp. transferred ownership of the 58,189-square-foot hospital and rehab facility at 1200 North 35th Avenue to an affiliate of Larkin last week, Hollywood Property Investments. The buyer also obtained a $16.7 million mortgage from Ocean Bank, records show.
High Ridge is an entity of Hollywood Pavilion Hospital, which filed for Chapter 11 bankruptcy in April, the South Florida Business Journal reported. In 2013, the company’s former CEO, Karen Kallen-Zury, was reportedly sentenced to 25 years in prison after being convicted of more than $39 million in fraudulent billing. Her husband, Tamir Zury signed the deed to the property.
After the company filed for bankruptcy, Larkin then bought the distressed mortgage and took over management of both the 50-bed hospital and the 152-bed rehabilitation facility, also known as the Hollywood Hills Rehab Center.
The 1.85-acre Hollywood property was developed in 1980, according to Broward County property records. It includes a cafeteria, dining room, therapy rooms, common areas and patient rooms. Previous sales information was not available.