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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Hialeah Medical Plaza Changes Hands

hialeah medical plaza

Franklin Street arranged the sale Hialeah Medical Plaza, a two-story commercial building featuring 41,000 square feet of retail and office space at 3750 W. 16 Ave. in Hialeah.

KEI Acquisitions, LLC acquired the site from RG Property Group Holdings LLC for $7.65 million.

Adam J. Tiktin and Greg Matus, of Franklin Street’s Florida Investment Sales Team, represented the buyer in this transaction.

The deal closed on Sept. 23rd.

Originally constructed in 1981 and situated on 1.19 acres, Hialeah Medical is 98 percent occupied by 29 medical-based businesses and retailers, including Proactive Health Corp, Tropical Medical Center, New Life Medical Research, Green Cross Clinic, Belen Therapy Medical Center and Benjamin Meat Store, among others.

The property features strong fundamentals including easy access, sufficient parking and an excellent location. Located in the heart of Hialeah along West 16th Avenue at the corner of West 37th Street, Hialeah Medical Plaza offers excellent visibility with traffic counts of approximately 31,000 vehicles per day. The site is adjacent to Lowe’s and Target, and further benefits from its close proximity to Westland Mall and the Palmetto Expressway.

 

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Developer Obtains $45M Construction Loan For Aventura Medical Office Project

Gomez Development Group will build a medical office at 21291 N.E. 28th Ave. in Aventura

Gomez Development Group obtained a $45 million construction loan to build a medical office complex in Aventura, not far from Aventura Hospital and Medical Center.

Marlon Gomez, head of the Miami-based developer, said his Aventura Eco Offices Property Owner LLC obtained the loan from ParkView Financial in California. The LLC recently took ownership of the 1.63-acre site at 21291 N.E. 28th Ave. through an entity transfer with Aventura Medical Center.

The site was listed for sale in 2019. It’s within a federal opportunity zone, which allows investors to defer their federal capital gains tax.

Gomez plans to break ground in early 2022 with a seven-story, 263,371-square-foot medical office building and complete the project in the first quarter of 2023.

 

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HCA Healthcare Buys Vacant Property Near AdventHealth’s HQ

HCA Oviedo Land Purchase

An HCA Healthcare Inc. entity on Oct. 22 bought some vacant property near AdventHealth‘s corporate headquarters.

The Nashville, Tennessee-based health system’s Oviedo Medical Center LLC bought 14.67 vacant acres on Forest City Road from an entity tied to Orlando-based MMI Development — Maitland West LLLP — on Oct. 22 for $15.5 million, according to Orange County property records. Executives with HCA Healthcare and MMI Development were not available for comment.

The property is at the southeast corner of State Road 414 and Forrest City Road abutting the Orange/Seminole county line. Of note, the site is across State Road 414 from AdventHealth’s corporate headquarters at 900 Hope Way in Seminole County.

HCA does not have a hospital or freestanding emergency room facilities in that area near the site at this time.

 

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Forte Capital Management Buys Hollywood Medical Offices For $11 Million

3702 Washington Street

Forte Capital Management bought a Hollywood medical office building adjacent to Memorial Regional Hospital South for $11 million.

The Miami Beach-based company purchased the property at 3702 Washington Street, according to Chaim Cahane, president of Forte.

A group of five doctors, including at least three with offices at the property, sold the building through an affiliate, records show. That entity bought the building in 2004 for $4.4 million.

The 43,606-square-foot building, constructed in 1995, spans nearly half an acre, according to property records.

The four-story building is 92 percent leased, said Cahane, who worked with Forte’s Dov Tepper to close the off-market deal.

The real estate investment firm plans roughly $250,000 in improvements to the vacant spaces, common areas and building exterior, allowing rent increases. Rents now are 40 percent below market rate, Cahane said.

The medical office market has proved buoyant amid the pandemic. Florida continues to be a magnet for retirees, many of whom require medical care. The Hollywood medical office building connects through a pedestrian overpass to the hospital.

 

Source:  The Real Deal

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