New Details On Health First’s Planned Island Hospital, ‘Wellness Village’

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Health First‘s massive plan for a new hospital and “wellness village” off State Road 520 on Merritt Island is starting to get its first formal public airings, as the project seeks regulatory approval.

This month, Health First will seek the support of the Brevard County Planning and Zoning Board and the Brevard County Commission for a series of zoning changes and related waivers that would allow the project to move forward.

Health First hopes to open the new seven-story, 120-bed hospital as early as 2025. It would replace the current six-story, 150-bed Cape Canaveral Hospital on State Road 520 in Cocoa Beach, which would close when the new hospital opens.

The wellness village will consist of the medical office building, child day care center, fitness center, coffee shop, education center, spa, retail, food hall, market/juice bar, event space, amphitheater and information tower. The wellness village also will contain landscaping and pedestrian walkways, as well as emergency, maintenance and event vehicle access.

 

Source:  Florida Today

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Pembroke Pines Medical Office Complex Gets $22 Million In Refinancing

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CBRE has secured $21,884,000 in refinancing for The Pines Medical Professional Centre, a 91,956-square-foot medical office complex located at 400 – 700 N. Hiatus Road in Pembroke Pines.

Paul Ahmed and Mackenzie Lampman with CBRE Capital Markets worked on behalf of the borrower, a private investor, to arrange a seven-year, fixed-rate loan from Bank United.

“We continue to see the healthcare industry trend toward outpatient services, which has strengthened the demand for medical office buildings overall. Since purchasing the property in late 2016, the borrower has created significant value by adding high-quality medical tenants. The borrower, a longtime client, was able to refinance out of their existing mortgage and pull cash out to put towards continuing improvements at the property,” said Ahmed.

The Pines Medical Professional Centre consists of four (4) two-story office buildings built between 2000 and 2002. It is 97 percent occupied by a variety of medical providers and services, including physicians, dentists, radiologists, and urologists.

The property is located less than a mile from Memorial Hospital West, which offers a wide range of healthcare services, including one of the busiest adult emergency care departments in Broward County.

 

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