Sunrise Assisted Living Facility Sells For $27 Million

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The Westchester of Sunrise assisted living facility sold for $26.66 million as part of a three-property portfolio deal.

HTA – E Florida LTC LLC, an affiliate of Nashville-based Healthcare Realty Trust sold the 120-bed, 127,846-square-foot assisted living facility at 9701 W. Oakland Park Blvd. to Sunrise FL Propco LLC, an affiliate of New Jersey-based Portopiccolo Group.

Oxford Finance provided $82.4 million in financing to the buyer for the Sunrise property, along with recently acquired assisted living facilities in Jacksonville and Winter Park.

 

Source:  SFBJ

 

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Texas Investor Buys Venice Medical Building For $34.3M

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A Dallas private equity firm specializing in medical buildings has bought a property in south Sarasota County.

MedProperties bought the newly constructed PAM Health Rehabilitation Hospital of Venice for $34.3 million.

The two-story, 50,000-square-foot building is at 2639 Curry Lane, just shy of two miles from Sarasota Memorial Hospital’s Venice campus.

The previous owner was an LLC tied to Catalyst Health Care Real Estate in Pensacola. Sarasota County property records show Catalyst paid $1.25 million for the land in 2021. According to a June news release from Catalyst, the rehab hospital is a partnership between Pennsylvania-based PAM Health and Kettering Health and has 62 beds “catering to patients in need of complex care.”

MedProperties, according to its website, has spent more than $1.2 billion to develop or buy more than 100 projects totaling 4 million square feet in 23 states.

 

Source:  Business Observer

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South Florida Hospital Group Plans Facility Near Pembroke Pines Mall

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Baptist Health South Florida intends to construct a free-standing emergency room and medical office next to Pembroke Pines’ Shops at Pembroke Gardens.

On January 25, the city’s Planning & Zoning Board will take a look at changing the Edison Pembroke development plan. It is about the 37-acre area between Pembroke Road and Pines Boulevard on the east side of Interstate 75.

Situated just to the south of the popular outdoor shopping center, Duke Realty first approved the land’s use for four residential complexes back in 2007. Of those office buildings, two have been built, one by Atlanta-based TPA Group following its acquisition of the land. TPA Group was given permission in 2021 to convert one of the 7.6-acre office buildings into 350 apartments.

Pembroke 2 Owners LLC, an affiliate of the TPA Group, now wishes to replace plans for a third office building with a project that will house Baptist Health South Florida, a Miami-based organization. It would have a free-standing emergency department and 70,000 square feet of business space spread across three stories.

The project was designed by Miami-based MSA Architects.

The 350-unit apartment project, which is still in the planning stages, along with 125 hotel rooms and an extra 35,000 square feet of offices, would all be permitted to TPA Group.

This site is situated between Memorial Hospital West and Memorial Hospital Miramar, two facilities run by Memorial Healthcare System. Baptist Health has been rapidly growing its outpatient, urgent care, and free-standing emergency department (ED) services in Broward despite not having a major hospital there.

 

Source:  SFBJ

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Broward County Acquires Healthcare Facility

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Broward County has been looking far and wide for a building to redevelop its Forensic Science Center.

It appears they’ve found one at 2000 W. Commercial Blvd. It acquired the Fort Lauderdale health care facility for $18.5 million to redevelop it for county uses. County officials previously had a different site in mind for this facility in Golden Heights, but they reconsidered after pushback from residents.

Broward County intends to redevelop this site into a 177,000-square-foot Forensic Science Center. It budgeted $262 million for this project.

Allied Health Education sold the 133,295-square-foot medical office facility to the county. The price equated to $139 per square foot.

The property last traded for $15.7 million in 2021. It was developed on the 8.7-acre site in 1971.

 

Source:  Connect CRE

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Vacant Land Adjacent To Parkland Golf & Country Could Become Medical Facility

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The vacant property owned by the Broward County School District at the corner of University Drive and Trails End in Parkland is likely to become a Medical Facility with an educational component for local students.

The Broward County School Board will be voting on the topic at a meeting on January 23. The proposed plan would have Broward Schools enter into negotiations with Broward Health about selling the vacant land, which is just over 10 acres, for an “educational purpose.”

If the motion is approved on January 23, 2024, Superintendent Licata would immediately enter into negotiations with Broward Health.

According to a release from BCPS, the “ultimate concept includes a medical facility for the area that will provide opportunities for Broward County School students in the areas of medical sciences, nursing, and other related fields. The opportunities are endless for internships, career days, volunteer service hours, to name just a few of the benefits.”

The Board Meeting on January 23 will be a key component to the process.

“Engaging in community conversations and with the City of Parkland regarding selling this piece of land is crucial,” said Broward School Board Chair and Parkland resident Lori Alhadeff. “Ahering to policy 7002-B on real estate acquisition and disposal and Policy 7000 will ensure transparency and compliance throughout the process.”

 

 

Source:  Tap Into Parkland

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