Onicx Group Secures $29M Refi For Two Central Florida MOBs

Poinciana Medical Arts Building 760x320

Onicx Group has secured a $29 million refinancing loan for two medical office buildings totaling 132,000 square feet in Trinityir and Kissimmee. First Citizens Bank‘s Healthcare Finance business, part of the CIT division, provided the loan.

Both medical offices were subject to previous financing in 2020. Trinity Medical Arts Building received a five-year, $21.8 million cash-out refinancing from ServisFirst Bank, while Poinciana Medical Arts Building (shown above) was subject to a $7.9 million loan, due in 2025, originated by Ameris Bank, CommercialEdge data shows.

The properties are part of Florida Trinity Hospital and Poinciana Hospital campuses. The 90,000-square-foot Trinity Medical Arts Building came online in 2011. Delivered in 2013, the Poinciana Medical Arts Building encompasses 42,000 square feet on 10.2 acres.

 

Source:  Connect CRE

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Developers’ Plans Could Include Apartment Complex With Hospital On Site In Palm Beach County

Crossroads 6106 LLC project - northeast corner of Interstate 95 and Indiantown Road 760x320

FLF Holdings and Crossroads Development Partners asked Jupiter officials to rezone part of their property for apartments, while Baptist Health South Florida could build a hospital on the remaining land.

The Town Council was scheduled to discuss the proposal from Crossroads 6106 LLC, a joint venture between local developer FLF Holdings and Crossroads Development Partners in Schaumburg, Illinois, on Sept. 19. While a vote for approval is not on the table at the meeting, the Town Council was expected to consider whether staff should continue working with the developers on the proposal for the 58.5-acre site at the northeast corner of Interstate 95 and Indiantown Road.

In 2018, the developer utilized a Bert Harris Property rights claim against the city – a method used when development applications were previously denied – to obtain approval for a hotel, restaurant, medical/research office, and daycare. No development took place at the time.

Now, Crossroads 6106 filed an application that seeks to amend the development agreement with the town to allow 520 apartments, with 20% of that workforce housing. The project would be called Santé Circle after the French word for health.

Josh Simon, managing partner of FLF Holdings, said his application doesn’t utilize the Live Local Act, so he needs a Town Council vote in favor of the project.

 

Source:  SFBJ

 

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Medical Office Complex To Replace 1954-Built Office Building In Coral Gables

760 Ponce de Leon Blvd. plus 112 and 120 Avila Court 760x320

An older office building in Coral Gables could be replaced with a $35 million medical office complex.

The city’s Development Review Committee will consider the small-scale land-use amendment for the 2.05-acre site at 760 Ponce de Leon Blvd., plus 112 and 120 Avila Court, on Sept. 22. The property owner, Miami-based B & B Investments, has agreed to sell the site to 760 Ponce De Leon Blvd LLC, led by Pedro Camejo and Joel Campo of Cam Group in Miami.

The property currently has a 17,245-square-foot office building that was constructed in 1954 and has several medical tenants. That building would be demolished.

The new building would feature 89,370 square feet of medical offices, 17,260 square feet of ground-floor commercial space and 502 parking spaces in five stories. The parking would be on the lower two levels and include 26 spaces with electric vehicle chargers. The medical office space would be on the top three floors, and there would be open-air terraces on floors four and five.

 

Source:  SFBJ

 

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University Of Miami Seeks Land Deal For New Medical Education Building

Aerial view of UHealth Tower Hospital with Sylvester Comprehensive Cancer Center in the foreground87 760x320

The University of Miami is seeking to acquire land from Miami-Dade County in order to build a medical education building for the Miller School of Medicine.

The nonprofit university wants to purchase 36,410 square feet at 1115 N.W. 14th St. from the county. The land is currently utilized by the Public Health Trust as part of the Jackson Memorial Hospital campus. UM would pay the county $6.21 million, a value based on several third-party appraisals.

UM already has a land lease on the site.

The county’s Community Health Committee was scheduled to vote on the deal on Sept. 11. The County Commission would vote on it on Oct. 3, with a two-thirds approval required.

 

Source:  SFBJ

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Laramar Group Buys Multi-Tenant Tampa Medical Building

Linebaugh Avenue Medical Office Building_10909 W. Linebaugh Ave

Medical office properties continue to attract investors due to the long-term demand drivers shaping the healthcare industry.

According to Berkadia’s H1 2023 U.S. Medical & Life Sciences Report, Tampa, Florida has made the national list for top sales volume for the first quarter, ranking eighth with $750 million.

One recent example is The Laramar Group’s acquisition of the Linebaugh Avenue Medical Office Building at 10909 W. Linebaugh Ave. in Tampa. The 28,000-square-foot, multi-tenant building was purchased for the closed-end Laramar Medical Properties Fund I. The building was built in 2000 and is fully leased. It’s near three hospitals and is less than ten miles from Tampa International Airport.

“This asset has a strong tenant base and central location, and we are excited to add this property to our growing medical office portfolio,” said Laramar’s Senior Vice President of Investments Ben Slad.

 

Source:  ConnectCRE

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