Sila Realty Trust Acquires West Palm Beach Medical Office Building

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Sila Realty Trust, Inc., a net lease real estate investment trust focused on investing in high quality healthcare properties across the continuum of care, announced the acquisition of a 25,150 square foot medical office building located at 770 Northpoint Parkway in West Palm Beach for approximately $9.85 million.

The West Palm Beach healthcare facility is a fully leased two-story building with the majority being occupied by the Seller, OB/GYN Specialists of the Palm Beaches, which specializes in high-risk pregnancies and births. OB/GYN Specialists offers comprehensive obstetrical and gynecologic services, with specific services at the West Palm Beach Healthcare Facility including general practice, perinatology and urogynecology.

OB/GYN Specialists has a total of 35 board-certified physicians with six of seven locations throughout the West Palm Beach-Boca Raton-Delray Beach, Florida Metropolitan Statistical Area (MSA). OB/GYN Specialists is part of the Unified Women’s Healthcare network. Unified Women’s Healthcare is the largest physician practice management company solely dedicated to women, with a network including over 2,600 providers at over 925 care centers and 36 fertility clinics nationwide.

“We are pleased to be partnering with OB/GYN Specialists which is widely recognized as a premier OB/GYN practice in the area,” stated Michael A. Seton, President and Chief Executive Officer of the Company. “The West Palm Beach Healthcare Facility is strategically located within the heart of an established and thriving medical district. This acquisition aligns with our proven strategy to grow our medical office building portfolio and geographic footprint through regional physician affiliations.”

 

Source:  CityBiz

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Why Are New-To-Market Hospital Systems And Medical Groups Increasingly Seeking To Gain A Foothold In Florida?

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Florida’s population is continuing to grow, as is the demand for medical services.

And it won’t be long before the state is being targeted by even more non-market health care providers. The key is to create a presence in the markets where these new health care enterprises operate.

Investors remain positive on medical buildings, according to a report by 42Floors, a division of the commercial real estate data company Yardi, based in Santa Barbara, California.

“Investors are viewing medical office as a haven in a disrupted environment,” said Doug Ressler, a business intelligence manager for Yardi.

In addition, the markets that have dominant employers will have a significant impact. And reports suggest that Florida is the most business-friendly state in the country.

 

Source:  OBJ

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AdventHealth Sells Pair Of Metro Orlando Nursing Homes For Nearly $37M To New-To-Market Company

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AdventHealth has sold at least two skilled nursing facilities it owns in Orange County for nearly $37 million to a new-to-market company.

The Altamonte Springs-based health system sold properties at 730 Courtland St. in Orlando and 305 E. Oak St. in Apopka. Entities that bought the properties appear to be linked to Lakewood, New Jersey-based Imperial Healthcare Group LLC.

  • 730 Courtland St. in Orlando: The 4.9-acre property includes 120 beds and traded hands for $19.25 million. The 52,651-square-foot building was built in 2000, per county records.
  • 305 E. Oak St .in Apopka: The 6.54-acre property includes 120 beds and traded hands for $17.73 million. The 53,510-square-foot building was built in 1992.

 

 

Source:  OBJ

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Coral Springs MOB Hits The Market

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A 22,925-square-foot medical building located at 1505 N. University Drive in Coral Springs, Florida has hit the market.

The 4-story building, situated on approximately one acre of land, presents a fantastic investment opportunity for an owner/user or value-add investor.

The building’s prime location in the heart of the Coral Springs business district offers numerous advantages for medical professionals. Its proximity to hospitals and other medical facilities makes it an ideal choice for practitioners looking to establish or expand their practices. Additionally, the building benefits from high visibility and exposure to over 49,000 vehicles per day on University Drive.

Overall, this well-maintained medical office building presents an excellent opportunity for buyers to acquire a property with significant upside potential in a prime location.

 

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Orlando Health Buys Medical Office Building From Walgreens

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Orlando Health has purchased a two-story medical office building from pharmaceutical chain Walgreens for $4.1 million, according to a May 31 report from the Orlando Business Journal.

The building is located at 1200 Kuhl Ave next to Orlando Health’s newly opened $300 million orthopedic institute and ASC. The medical office and surgical facility opened March 27, while the hospital is set to open August 1.

Walgreens, which originally purchased the building for $3.85 million in 2007, will continue to lease the ground floor of the 10,194-square-foot building while Orlando Health will use the rest for office space.

This is the second medical office building Orlando Health has purchased in May, obtaining a nearby 18,616-square-foot building for $7.38 million earlier in the month.

 

Source:  Becker’s ASC Review

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