Reply to "The Ethicist" on Sidwell's Hospice Purchase

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Reply to ""The Ethicist" on Sidwell's Hospice Purchase"

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[quote=Anonymous][quote=Anonymous]If the WH board was truly motivated to get the best price for the property to fund future hospice care services, why did they not market the property instead of entering into a confidential private sale with Sidwell?  The NW DC real estate market is hot, and with competitive bidding it's easy to imagine that the price would have gone much higher.  What if a much-maligned developer was willing to pay 30%-50% more for the property?  If the property would sell at a premium for development because that is its highest and best use, wouldn't that have been in the WH's long-term interest?  Maybe the fairest solution, if the WH board really is going to sell, is for Sidwell to stand aside and agree that WH can have a new, competitive tender, with Sidwell and other interested parties putting forward their best offers?[/quote]

Because the sale to an intensive use developer would no doubt have been held up by neighborhood issues.  All that needs to be factored into the price paid for the property.  Washington Home was interested in getting out of the business quickly.  Having said that, I think the price paid seems fair.[/quote]

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