Key International Sells Miami Health District Building For $320 PSF

TopMed Realty, a private health care real estate investment firm, paid $13.9 million for an office building in Miami’s Health District.

Key International, along with its partner on the project, 13th Floor Investments, sold Highland Park Center, a Class A, 43,000-square-foot building at 1011 Sunnybrook Road for more than $320 per foot.

The 11-story building, which was completed in 2011, sold fully leased to tenants that include Atlantis University and Night and Day Pediatrics. Property records show Key International and 13th Floor purchased the property as an REO from BankUnited for $7.85 million in 2014. It includes a garage.

Douglas Mandel and Benjamin Silver of Marcus & Millichap represented the seller, according to a release.

TopMed Realty, led by Roni Soffer, is based in Hallandale Beach.

The property is across the street from University of Miami’s Jackson Memorial Hospital campus.

 

Source: The Real Deal

Jackson Memorial Hospital Files Building Permit For $174 Million Rehab Center

Jackson Memorial Hospital is moving forward with its plans to build a $174 million paralysis rehabilitation hospital on its Miami Health District campus.
Jackson submitted a building permit for the Christine E. Lynn Rehabilitation Center For The Miami Project To Cure Paralysis at UHealth/Jackson Memorial Medical Center, according to the city of Miami’s building department. The permit is pending approval.
In February, the hospital began knocking down the Institute and Institute Annex buildings on the west side of the Jackson campus at 1611 Northwest 12th Avenue in Allapattah, according to a press release. The new 10-story, 225,000-square-foot building is expected to open in 2020.
The hospital, which nearly went bankrupt in 2011, will fund construction with a $25 million donation from health care philanthropist Christine E. Lynn and part of an $830 million general bond obligation Miami-Dade County voters passed in 2013. The bond included about $500 million for construction.
The rehab center will feature a 100-bed private-room facility and clinical care and research done with the University of Miami.
Source: The Real Deal

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