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Blue Equity Announces Sale of "The Midlands" to the United States of America for and on Behalf of the Department of Veterans AffairsJul 10th, 2012
The Wall Street Journal
LOUISVILLE, Ky., Jul 10, 2012 (GlobeNewswire via COMTEX) -- Blue Equity, LLC announced today that the "The Midlands" property was officially acquired by the Department of Veterans Affairs for the future location of a replacement VA Medical Center to serve veterans in Louisville, Kentucky and southern Indiana.
The Midlands is a 36 acre parcel located at 4906 Brownsboro Road in Louisville, Kentucky. This location is in the southeast quadrant of the Watterson Expressway (I-264) and Brownsboro Road (US 42) interchange and contiguous to both points. It was the only remaining tract its size of greenfield, ground ready land with the closest proximity to the current hospital and centrally located to most of the Louisville metropolitan area.
The Department of Veterans Affairs ("VA") selected The Midlands for a replacement, full-service hospital (inpatient and outpatient) to service the current and projected future healthcare needs of US Veterans requiring services in the western Kentucky and southern Indiana regions. It is expected that the replacement medical center will accommodate an anticipated 65,000 or more patients per year.
"Blue Equity is very proud to announce this transaction," said Jonathan S. Blue, Chairman and Managing Director of Blue Equity, LLC. "The Midlands is situated in a prime location within the City of Louisville. We considered many opportunities, options and offers for the development of this site and are especially gratified that it will be used for such an upstanding purpose. The new VA medical center will serve our veterans well, while bolstering the local economy with both new construction and new medical center employment opportunities. It is anticipated that there will be many reciprocal benefits with the close proximity of the new VA medical center to the well established downtown Louisville medical community and facilities."
Blue Equity, LLC ( www.blueequity.com ) is an independent, private equity firm investing both growth capital and providing business expertise in enterprises with solid development potential. Blue Equity forms strategic partnerships with existing management teams, leveraging expertise and relationships to stabilize, strengthen and grow lasting value. Investment efforts and managerial expertise are focused on the operation of a global and diversified portfolio of business enterprises, including holdings in oil and gas, media, healthcare, art commerce, defense, financial services and real estate. Blue Equity is dedicated to helping businesses grow by accelerating opportunity and driving innovation to the marketplace.
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SOURCE: Blue Equity, LLC