IMC Equity Buys Hialeah Medical Office For $14.75 Million

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IMC Equity Group acquired Palm Springs Medical, a medical office building in Hialeah, for $14.75 million.

Cofe Fund 1-Palm Springs LLC, managed by Cofe Properties in Miami, sold the 7-story, 76,280-square-foot medical office at 1840 W. 49th St. to North Miami-based IMC Equity Group, led by CEO Yoram Izhak. The deal was brokered by Douglas K. Mandel and Ryan Fellman of the Institutional Property Advisors group at Marcus & Millichap. The price equated to $193 a square foot.

The building last traded for $4 million in 2011, when Cofe Properties bought it from a bank that had foreclosed on it earlier.

Carlos Segrera, chief investment officer of IMC Equity Group, said they chose to invest in the 49th Street corridor in Hialeah because many nearby properties have strong occupancy rates. The deal was at a 7% capitalization rate and the building was 12% vacant.

 

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Head Of Plastic Surgery Clinic Sells Hollywood Office For $12.3 Million

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The 26,884-square-foot office at 2700 Hollywood Blvd. was sold for $12.3 million by 2700 Hollywood Blvd LLC.

Ruben Salama, who is also the practice administrator at Elite Plastic Surgery, manages the LLC. Elite Plastic Surgery is based in the building, along with several other health care providers.

The buyer was Rajen Hollywood LLC, managed by commercial real estate investor Arnold S. Wax in Aventura. Coral Gables-based Banesco USA awarded a $6.77 million mortgage to the buyer.

The price equated to $457 a square foot, nearly doubling its 2017 sale price of $6.3 million.

 

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New Medical Office Building Lined Up For Seminole County

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A planned new 9,840-square-foot medical office space is in the works near the southwest corner of Red Bug Lake Road and Goldeneye Point in Oviedo.

CWS-Oviedo Development LLC, the owner of the 1.86-acre property at 7157 Red Bug Lake Road, is led by Carl Sahlsten, a former senior executive of the Carrabba’s Italian Grill Inc. restaurant chain. Kimley-Horn & Associates Inc. was the applicant on the plans.

In 2007, the firm built the infrastructure and developed four pads on the site at the southeast corner of Red Bug Lake and Mikler roads, as Orlando Business Journal previously reported. Two of the pads include a Romano’s Macaroni Grill and a Rock & Brews restaurant, while another pad is vacant. The pads are surrounded by existing parking.

 

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UF Health Purchases 17 Acres In South Marion County

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Medical network University of Florida Health will expand its reach in Marion County with a recent land purchase in the Summerfield community at the southern edge of the county near The Villages.

A deed shows the transaction took place on Oct. 7 between Novia Group, LLC and Shands Teaching Hospital and Clinics, Inc.

Three separate parcels make up the 26.92 acres of land listed under address 14950 S. Highway 441 on realtor.com.

UF Health paid around $2.21 million for the property west of U.S. Highway 441 but has not disclosed plans for development.

 

Source:  Ocala StarBanner

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Developer Proposes Assisted Living Facility Near Pinecrest

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OHC Advisors has proposed an assisted living facility in south Miami-Dade County, near Pinecrest and Kendall.

The Miami-based company, through affiliate 11405 SW 82 Ave LLC, filed a pre-application and zoning hearing with county officials for the 3.82-acre site at 11405 S.W. 82nd Ave. and 7990 S.W. 112nd St./Killian Drive. It purchased the vacant property for $3.5 million in July.

It wants to rezone the residential site to allow 154 assisted living beds. Michael Baldwin, the president of OHC Advisors, said there would be about seven two-story buildings. This would be a luxury, residential-style assisted living facility, not a “large boxy building” with all the residents housed together.

It will be called Killian Gardens.

 

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