South Florida Nursing Homes Trade For $36 Million

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A pair of nursing homes in Broward County were recently acquired for about $36 million by a New Jersey operator of nursing and rehabilitation centers

Limited liabilities companies connected to Englewood Cliffs, NJ-based CareRite Centers acquired Manor Pines Convalescent Center at 1701 N.E. 26th St. in Wilton Manors and Manor Oaks at 2121 E. Commercial Blvd. in Fort Lauderdale on Dec. 29.

Both nursing facilities were operated by the Marrinson Group, Inc. a Wilton Manors-based nursing home company.

In a release, CareRite Center stated that it would rebrand Manor Pines as The Pearl at Fort Lauderdale Rehabilitation and Nursing Center. Manor Oaks would be renamed The Savoy at Fort Lauderdale Rehabilitation and Nursing Center.

 

Source:  SFBJ

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Nutex Health Plans “Micro-Hospital” In Lake County

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A Houston, Texas-based company has plans for a “micro-hospital” in Clermont.

Nutex Health has submitted plans with the city of Clermont for a conditional use permit so it can build a 28,700-square-foot single-story building and parking on 2.82 acres southwest of the corner of U.S. 27 and Hammock Ridge Road. The facility would have both emergency and inpatient medical services, separating it from freestanding emergency rooms which primarily offer emergency care.

The building would include eight dedicated patient rooms, an operating room, medical laboratory and other hospital services like CT scans, MRI and X-ray. The hospital would be open 24/7 and have a staff of 10 for each shift.

An entity connected to Orlando-based LCA Development is listed as owner of the land, part of a proposed 23-acre retail/office development called the Shoppes at Hammock Ridge. Nutex officials were not immediately available for comment.

 

Source: OBJ

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Florida’s Hospital Construction Trend Rises To Meet Population Growth

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In 2024, Jupiter Medical Center and UF Health hope to open a “neighborhood hospital” with an ER, inpatient beds, operating rooms and other services in Avenir, a new residential development in northwest Palm Beach County — another sign of a boomlet in hospital construction in Florida.

Through the first eight months of the year, the square footage of hospital construction in Florida was up 64% to 1.9 million square feet and the dollar value was up 125% to $1.15 billion, reports Dodge Construction Network.

Metro Jacksonville led the state in hospital construction starts by both dollar value and square footage, with Southeast Florida close behind.

Nationally, the trends also are up but not by nearly the same scale. Through August, hospital construction in the United States was up 24% in square footage and 26% in dollar value, Dodge says.

Kim Kennedy, director of forecasting for the Dodge Construction Network, which compiles the data, notes that Dodge puts the full dollar value and square footage of a project in the month the project starts. Because of that, big projects have a large impact on monthly totals for smaller geographies such as states and counties compared to the national numbers.

“That said, I think the hospital construction market both in Florida and across the U.S. has been a strong one this year,” she says.

Kennedy also says that rising costs of materials and construction wages likely are influencing the rise in the dollar value of projects started.

“With the exponential population growth in Palm Beach County and surrounding areas comes the need for innovative and diverse health care offerings,” UF Health President David R. Nelson said in announcing the Avenir project. 

 

Source:  Florida Trend

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Developer Could Rezone Westchester Site For Medical Office

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AJP Ventures could rezone a site in the Westchester area of Miami-Dade County to build a medical office building.

Westchester Real Estate Partners LLC, led by Alberto J. Perez of Miami-based AJP Ventures, filed a pre-application with county officials for the 1.77-acre site at 3500 and 3520 S.W. 107th Ave. It has the two lots under contract from Emahud LLC and the Eneida Exposito trust, respectively.

The land is mostly vacant, but it has a single-family home. It’s surrounded by other single-family homes.

The developer wants to rezone the site from “agricultural” to “semi-professional office,” which would eventually require County Commission approval. The site plan calls for a two-story, 28,207-square-foot medical office surrounded by 140 parking spaces.

 

Source:  SFBJ

 

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PrivCap Sells Assisted Living Facilities In Margate, Davie

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PrivCap Companies sold a pair of assisted living facilities in Broward County for a combined $12.7 million.

The Boca Raton-based investment firm sold the properties at 6810 Southwest Seventh Street in Margate (pictured above) and at 4681 Southwest 66th Avenue in Davie to entities led by Zalman Skoblo and Zvi Jacobowitz of Brooklyn, according to records.

John DeMarco and Wesley Suskind of The DeMarco Real Estate Group at RE/MAX represented the seller.

The deal for the 131-bed portfolio breaks down to $97,000 per bed.

Both properties are under the Caring Village brand and offer memory care services, according to their websites.

Other investors eyeing facilities for senior residents include Bent Philipson, who has focused on nursing homes. In November, he and Andrew Bronfeld bought the Signature HealthCare Center of Waterford at 8333 West Okeechobee Road in Hialeah Gardens for $43.2 million.

 

Source:  The Real Deal

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