Weston Medical Surgical Pavilion 760x320

A two-story medical office building in Weston sold for $17.2 million.

Two affiliates of Montecito Medical Real Estate sold the 32,559-square-foot building at 2229 North Commerce Parkway known as Weston Medical Surgical Pavilion to another affiliate of Montecito named MMAC Pix Weston FL SPE LLC, records show.

The deal was financed with a $22.3 million loan from BMO Harris Bank.

Montecito affiliates Weston Surgery SPE LLC and MMPC Maine I LLC had paid $11.5 million for the property in 2017.


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The medical office housing the Weston Outpatient Surgery Center was sold for $11.53 million.
Weston Pavilion Partners, managed by Saul R. Epstein in Coconut Creek, sold the 32,559-square-foot building at 2229 N. Commerce Parkway in Weston to Weston Surgery SPE, an affiliate of Nashville-based Montecito Medical Real Estate. Capital One provided an $8.5 million mortgage to the buyer.
The price equated to $354 per square foot.
The medical office building was built on the 3.1-acre site in 1999. It last traded for $6.7 million in 2004.
Since 2005, Montecito Medical Real Estate has acquired a national portfolio of nearly 80 medical office properties valued at more than $1.5 billion, according to its website.
Source: SFBJ