Broward Health Buys Vacant Land For $14.5M
Broward Health is poised to expand after purchasing vacant land in Parkland for $14.5 million.
Lucky Land Star Holdings, managed by Agustin Herran in Miami, sold seven acres at the southwest corner of University Drive and Trails End to the North Broward Hospital District, the public body that runs Broward Health.
Herran is part of the family that owns Sedano’s Supermarket. His company acquired the property in deals of $8.8 million in 2012 and $950,000 in 2017.
No development plans have been approved there, but Broward Health could look to build an outpatient center. It has a hospital in neighboring Coral Springs.
“We continuously seek opportunities to expand our services in the communities we care for,” Broward Health President and CEO Gino Santorio said in a statement. “Further development in Parkland allows us to add ancillary offerings that complement the acute care services of Broward Health Coral Springs. We look forward to extending a full continuum of care to Parkland and the surrounding communities.”
The property is about five blocks south of Hillsboro Boulevard. It’s near many wealthy neighborhoods of new homes, several of them 55-plus communities. Attracting more patients on private health plans is financially attractive for most hospitals.
Like all hospitals in South Florida, Broward Health has been dealing with financial losses amid the Covid-19 pandemic. It would probably take many months to obtain development approvals on this site and break ground, so it won’t need to fund construction for a while.