ShareMD Acquires Three-Building Medical Office Campus In Miami
ShareMD, a healthcare real estate and physician practice solution company with corporate office in Alpharetta, Georgia, has closed escrow on a three-building, 177,358 sq. ft. medical office campus atop ten acres in Miami. ShareMD was represented by Miami-based Ideal Management and by FIP Realty Services; the seller was a private ownership entity.
This purchase equals six medical buildings purchased by ShareMD in the past ten months, and increases ShareMD’s portfolio to twelve buildings and over a million square feet of owned healthcare assets in Florida and California. ShareMD is funded by private equity firm Martis Capital.
“We’re excited to continue ShareMD’s growth in the healthcare facility sector with this acquisition,” said ShareMD’s Chairman and CEO, John Bardis. Bardis, the former Assistant Secretary of the US Department of Health & Human Services as well as the founder and former head of MedAssets, continued, “ShareMD provides a range of healthcare space and technology solutions, and this addition to our portfolio provides for additional capabilities in the South Florida marketplace.”
The purchase marks ShareMD’s second purchase of a healthcare portfolio in south Florida, following their purchase in November 2019 of a two building, 104,000 square foot portfolio in Miami. Earlier, in February of this year, ShareMD purchased a 20-story, 498,000 square foot medical/professional tower in Jacksonville. ShareMD has acquired a dozen healthcare and medical/professional properties in the past two years totaling 750,000 sq. ft in Florida alone, separate from its 170,000 sq. ft California healthcare portfolio.
“We were attracted to this opportunity to further expand our portfolio in South Florida,” said ShareMD founder and Chief Investment Officer, George Scopetta. “And, our team’s private equity backing and our track record of nearly a million square feet of properties purchased over the past two years provided the seller with confidence that we could close quickly, and with certainty.”
The purchase was financed by a loan from Starwood Mortgage Capital, arranged by PSRS. Greenberg Traurig provided legal counsel, and title services were provided by Chicago Title. Additional purchase transaction support was provided by ShareMD Asset Management, a healthcare facility-focused management company which also manages ShareMD’s bicoastal portfolio.