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Investment firm buys Parkersburg hospital building

Parkersburg News and Sentinel photo by Jeff Baughan The former St. Joseph’s Hospital has been sold to Siltstone Resources LLC. The investment firm closed the deal Monday morning. Assisted care services are among the options being considered for the site.
Parkersburg News and Sentinel photo by Jeff Baughan
The former St. Joseph’s Hospital has been sold to Siltstone Resources LLC. The investment firm closed the deal Monday morning. Assisted care services are among the options being considered for the site.

PARKERSBURG, W.Va. — The company that revived a vacant, historic downtown building in 2014 is taking on another iconic Parkersburg site.

Siltstone Resources LLC closed a deal Monday to purchase the former St. Joseph’s Hospital from Camden Clark Medical Center, said Holmes R. “Butch” Shaver, director of commercial and industrial sales and leasing for Berkshire Hathaway HomeServices Real Estate Center. Siltstone first became known in the area early in 2014 when it purchased the former Union Trust and Deposit Co. building at 700 Market St.

“They’re very high on this area,” said Shaver, who represented both Siltstone and Camden Clark in the purchase.

Shaver declined to reveal the price of the deal. The deed had not been recorded at the Wood County Clerk’s office as of Monday afternoon.

A Siltstone representative did not return a call seeking comment Monday, but in an interview last year, Michael Faust, vice president out of the company’s offices in Cambridge, said the investment firm works to capitalize on oil and natural gas activity in a variety of ways, and not just with projects tied directly to that industry.

Shaver said Siltstone is considering possible uses for the St. Joseph’s property.

“I think it’ll obviously be some kind of assisted care facility,” he said.

There are a lot of options for the 17-acre property, which includes the hospital itself, plus its connected parking garage and the professional office building, Shaver said. Offices in the professional building will remain, he said.

“It’s a great property and very well maintained,” Shaver said.

Parkersburg Mayor Jimmy Colombo said he was pleased not only to learn the facility was going “back on the tax books again,” but that a building that is meaningful to so many in the community – his four children were born there – will continue to be used.

“Isn’t that a great way to start February?” Colombo said.

Established more than a century ago, St. Joseph’s was the second Catholic hospital in West Virginia. It was purchased in 1996 by Columbia HCA. Ownership changed hands a couple of times after that before the hospital was bought for $87 million by WVU Medicine.

In 2012, it was announced the St. Joseph’s Campus would close by 2017, but a decrease in patient volume due to changes in technology and health care policy caused the timetable to move up. The emergency department was closed in August 2014, with the rest of the campus following later that year.

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