JACKSON -- The board of trustees for St. John's Medical Center in Jackson has sold a high-end house at a loss, saying the three-bedroom home didn't fit its housing strategy.

Chief Financial Officer John Kren said the hospital purchased the home in April 2007 for about $1.35 million. The board voted unanimously last week to accept a purchase offer of just more than $1 million.

"Given the market and the fact that we're not in the real estate speculation market, I think this is a reasonable offer," said hospital CEO Pam Maher.

Trustees and hospital administrators said it would be a wise use of resources to pursue housing for lower-income employees instead of executive staffers.

"It's better for us to take a $1 million house and turn it into four or five places or use it for our day-care project. There's better ways for us to use that money," Kren said.

The hospital bought the house for the chief nursing officer, who has since left the hospital. The house has remained vacant since the winter.

"To keep it would mean we would incur costs," trustee Bruce Hayse said. "There's depreciation, difficulty in renting it and maintenance."

Hospital officials declined to release the name of the individual who made the offer on the home because they're still negotiating a contract.

The hospital trustees approved a separate offer on the home several months ago but said it fell through.