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Faison Buys Buildings at Baptist Hospital

August 18, 2004

By Bill Lewis

Charlotte, N.C.-based Faison Enterprises Inc., a real estate company with holdings worth more than $1.3 billion, is the new owner of two medical office buildings at Baptist Hospital near downtown Nashville. Faison paid more than $31 million for the buildings at 300 20th Ave. N. and 222 22nd Ave. N., said Allen Jackson, the company's chief executive officer. It is Faison's first transaction in Nashville, he said. Faison bought the buildings from American Real Estate Holdings. That company bought the buildings after Baptist was purchased by Ascension Health more than 21/2 years ago, Baptist spokeswoman Jennifer Jackson said. Baptist has a master lease that gives it some control over which entities can lease space in the buildings, which are connected to the main hospital building by crosswalks over the street.

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