Local HMO Proposes New Medical Office Building In Coral Gables

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The head of a local company that provides health services to senior citizens wants to build a new four-story office building in Coral Gables.

Santiago Vera, CEO of MedGroup Medical Center, filed an application to build a $3.5 million mixed-use commercial building on a vacant lot at 2800 Douglas Road.

The plans, which will be discussed by the Coral Gables Development Review Committee on July 28, will include a 9,094-square-foot adult day care on the third floor and a 7,000-square-foot medical clinic on the fourth floor.

The adult day care operation will serve a maximum of 100 patients and be served by three to five full-time employees, according to a memo to city officials written by Luis La Rosa of the Pembroke Pines-based architecture firm LLR Architects. It will include a TV viewing area, game areas, and dance and exercise areas as well as private rooms, food prep areas, eating areas, and restrooms.

The medical clinic will include exam rooms, therapy rooms, and lab rooms and will employ two medical doctors, two medical assistants, a front desk personnel, and a phlebotomist.

MedGroup also plans to construct a three-story office building in Homestead at 304 N. Krome Ave. on land that he also intends to acquire.

Vera said he plans on breaking ground at the Homestead location in the next 90 days and hopes to start construction on the Coral Gables office by the first quarter of next year.

 

Source:  SFBJ

 

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Lotus Closes $120M Medical Office Portfolio Financing

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Lotus Capital Partners has arranged, structured, and closed a $120 million financing package on behalf of ShareMD for an eight-property medical office portfolio.

Lotus secured a $66 million 5-year refinancing with Cerberus Capital Management collateralized by a seven-property portfolio totaling 268,000 square feet, and a $53 million refinancing with an incumbent lender secured by a 498,000 square office building in Jacksonville, Florida.

The Cerberus loan features a diverse tenant mix across various medical specialties in offices strategically located near hospitals and medical facilities. The incumbent refinance is secured by an on-campus medical office building anchored by major health system tenants.

ShareMD is a fully integrated real estate company focused on institutional quality MOBs.

“The team at Lotus is among the best in the business at executing complex capital structures and we greatly valued the firm’s creativity, dedication, and professionalism throughout this process,” said John Bardis, CEO of ShareMD.

 

Source:  Connect CRE

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HCA Florida Healthcare Acquires Baymeadows Property For Medical Building, Stand-Alone ER

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HCA Florida Healthcare intends to develop a free-standing emergency center and convert other space into a medical office building at Baywood Center in the Baymeadows area.

Memorial Healthcare Group Inc., part of HCA, paid $6.06 million on June 22 for two two-story buildings of 26,047 square feet each on 3.51 acres at 9424 and 9432 Baymeadows Road.

A JEA service availability request shows that the project includes the demolition of the building at 9432 Baymeadows Road for development of a 10,860-square-foot free-standing emergency room. Plans show 10 exam rooms, diagnostic X-ray, laboratory and other space. The building at 9424 Baymeadows Road is shown on a preliminary site plan as a future conversion to a medical office building.

Kimley-Horn of Jacksonville is the civil engineer.

“As a part of HCA Florida Healthcare, we are always looking to bring healthcare closer to where people live and work. This is especially important when it comes to emergency care,” said Odette Struys, public information officer of HCA Florida Memorial Hospital, in an email July 10.

Memorial Healthcare bought the property from Acorn Baywood LLC, which also has a six-story, 119,019-square-foot office building on the property at 9428 Baymeadows Road.

Anthony Brunetti with Florida Medical Space Inc. represented the buyer in the transaction. Newmark Phoenix Realty Group CEO and Principal Jim Sebesta and Senior Vice President Jeff Frandsen represented the seller.

All three structures were built in 1985.

 

Source:  Jacksonville Daily Record

 

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North Palm Beach Memory Care Center Sells For $17 Million

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The Palm Beach Memory Care facility in North Palm Beach sold for $17 million.

NPB Senior Development Co., an affiliate of Boca Raton-based Silver Cos., sold the 37,119-square-foot memory care facility with 58 living units at 639 U.S. Highway 1 to PBMC Propco LLC, managed by Douglas Brawn on behalf of West Palm Beach-based Alta Senior Living.

Silver Capital Commercial Funding, also part of Silver Cos., provided a $14 million mortgage to the buyer.

The price equated to $293,103 per living unit.

 

Source:  SFBJ

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Jax Spine & Pain Centers And UF Health Jacksonville Complete Multispecialty Surgery Center, MOB

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Jax Spine & Pain Centers and UF Health Jacksonville, a private, nonprofit hospital affiliated with the University of Florida Health Science Center campuses, completed a multispecialty center and medical office building in Jacksonville.

The first floor of the 54,000-square-foot facility is shared by Jax Spine & Pain Centers and UF Health. It houses an ambulatory surgery center with four operating rooms (ORs), two endoscopy rooms, a pain procedure suite with four procedure rooms, and a dedicated MRI suite.

The second and third floors comprise procedural and clinical space.

 

Source:  healthcare design magazine

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