Baptist Health South Florida is further growing its real estate portfolio with the purchase of a medical office building in Kendall.

The Coral Gables-based health system, led by CEO Bo Boulenger, paid $14.2 million for the two-story property at 9090 Southwest 87th Court, just steps from its 98-acre main campus.

Cresa Partners represented Baptist Health in the deal, while Gridline Properties’ Alfredo Riascos represented the seller, an entity tied to Yvette Almeida.

The transaction closed at $650 per square foot—one of the highest prices seen in the Kendall office submarket.

The property has a long history, originally built in 1962 with an 8,382-square-foot expansion added in 1985. Today, it houses medical tenants including ADC Ambulatory Diagnostics Center, CBC Breast Imaging Center, The Neurology Group, and Integrated Comprehensive Urgent Care. The seller’s family has deep ties to the region—Almeida is the daughter of the late Jaime Pozo, a well-known figure in South Florida’s medical office real estate sector.

This latest acquisition builds on Baptist Health’s recent string of property investments. Just last month, the nonprofit purchased two medical-use properties for a combined $40 million: a Boynton Beach medical office building through a $26 million ground lease, and a 26.3-acre development site in Sunrise for $14.2 million, where it plans to develop a seven-story, 100-bed hospital.

Baptist Health, the region’s largest health care provider with 12 hospitals and more than 200 facilities, is also expanding through partnerships. In South Miami, Anchor Health Properties is developing a 92-bed rehabilitation center for the system, supported by a $58.4 million construction loan.

Source:  The Real Deal