Horizon Resources Sells Fallbrook Hospital
Fallbrook Hospital Sold to Crestwood Behavioral Health
The Fallbrook Healthcare District of Fallbrook, California successfully sold the main Fallbrook Hospital located at 624 East Elder Street, Fallbrook, CA to Crestwood Behavioral Health, Inc. of Sacramento, CA. The 63,000 square foot building was sold for $4.5 million and closed escrow on September 29, 2017. Nehal Wadhwa with Horizon Resources Inc. represented the buyer.
Fallbrook Hospital closed in December 2014 after Community Health Systems (CHS) of Tennessee ceased its lease of the facility.
The Fallbrook Healthcare District (FHD) board of directors put the Fallbrook Hospital and some surrounding buildings up for sale in March 2016. Travis Ives with Cushman and Wakefield was retained to handle the sale and find a buyer to provide meaningful medical services to the community.
The deal represents a win-win for the healthcare district and the Fallbrook community as Crestwood Behavioral Health, Inc. is a valuable asset to the community providing mental healthcare resources and inpatient care.
The proposed Fallbrook Healing Center will be a secure Mental Health Rehabilitation Center (MHRC) in the former Fallbrook Hospital and will serve 100 clients. It is built on a foundation of Crestwood Behavioral Health’s 49 years of providing mental health recovery and wellness services throughout California.
Crestwood will purchase the site, secure the facility, improve it for appropriate use, and open the new center in 2018.
Mental health issues such as depression, bi-polar and suicide affect one out of every five families in our country, and this facility will provide much-needed help for many in this and surrounding communities.