Tag Archive for: sharemd

ShareMD Plans To Open Downtown Southbank Medical Facility

Rendering of ShareMD's 24,000-SF Medical Office at 841 Prudential Drive in Jacksonville 760x320

ShareMD plans to open a 24,000-square-foot medical office at 841 Prudential Drive on the Downtown Southbank in Jacksonville.

It will be the first non-hospital medical office development Downtown in more than 20 years, it said in a news release July 29.

The project is scheduled to go before the Jacksonville Downtown Development Review Board in September. It is expected to break ground in the third quarter of 2025 and open in 2027, ShareMD said.

The medical office building owner and operator, which is based in Alpharetta, Georgia, bought the property in February 2020 from GRFV Holdings LLC of Chicago for $67 million.

The Eight Forty One building is one 6.3 acres near Baptist Medical Center.  The new medical office will be constructed on a surface parking lot on the property.

The building was designed by HED, a national architectural design firm based in Royal Oak, Michigan. Robbins Design Studio of Jacksonville will produce the final construction set of plans.

The complex is 89% leased.

“We’re starting to speak with a number of different types of healthcare operators and should have an operator chosen by the end of the year. We anticipate notable interest from national and regional healthcare providers,” Jennifer Ferguson, ShareMD’s executive director of Property Management, said in the release.

ShareMD is an investor and manager of healthcare campuses in Florida and California. The portfolio includes 18 facilities totaling more than 1.1 million square feet.

 

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Lotus Closes $120M Medical Office Portfolio Financing

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Lotus Capital Partners has arranged, structured, and closed a $120 million financing package on behalf of ShareMD for an eight-property medical office portfolio.

Lotus secured a $66 million 5-year refinancing with Cerberus Capital Management collateralized by a seven-property portfolio totaling 268,000 square feet, and a $53 million refinancing with an incumbent lender secured by a 498,000 square office building in Jacksonville, FL.

The Cerberus loan features a diverse tenant mix across various medical specialties in offices strategically located near hospitals and medical facilities. The incumbent refinance is secured by an on-campus medical office building anchored by major health system tenants.

ShareMD is a fully integrated real estate company focused on institutional quality MOBs.

“The team at Lotus is among the best in the business at executing complex capital structures and we greatly valued the firm’s creativity, dedication, and professionalism throughout this process,” said John Bardis, CEO of ShareMD.

 

Source:  ConnectCRE

 

 

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Lotus Closes $120M Medical Office Portfolio Financing

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Lotus Capital Partners has arranged, structured, and closed a $120 million financing package on behalf of ShareMD for an eight-property medical office portfolio.

Lotus secured a $66 million 5-year refinancing with Cerberus Capital Management collateralized by a seven-property portfolio totaling 268,000 square feet, and a $53 million refinancing with an incumbent lender secured by a 498,000 square office building in Jacksonville, Florida.

The Cerberus loan features a diverse tenant mix across various medical specialties in offices strategically located near hospitals and medical facilities. The incumbent refinance is secured by an on-campus medical office building anchored by major health system tenants.

ShareMD is a fully integrated real estate company focused on institutional quality MOBs.

“The team at Lotus is among the best in the business at executing complex capital structures and we greatly valued the firm’s creativity, dedication, and professionalism throughout this process,” said John Bardis, CEO of ShareMD.

 

Source:  Connect CRE

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ShareMD Acquires Additional South Florida MOB, Adding To Growing Healthcare Portfolio

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ShareMD, a healthcare real estate and physician practice solution company with corporate office in Alpharetta, Georgia, has closed escrow on a 33,974-square-foot multi-tenant medical office atop .97 acres in Ft. Lauderdale, Florida. Benjamin Silver of Marcus & Millichap represented both Buyer and Seller. The purchase price was not disclosed.

This purchase represents the ninth medical office property purchased by ShareMD in the past eighteen months, and increases ShareMD’s total portfolio to fifteen properties and approximately one million square feet of owned healthcare real estate 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”.

ShareMD has acquired a dozen healthcare and medical/professional properties in the past two years totaling almost 850,000 sf in Florida in addition to its 170,000 sf 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 one million square feet of properties purchased over the past three years provided the seller with confidence that we could close quickly, and with certainty.”

The purchase was financed by a loan from American National Insurance Company facilitated by Pacific Southwest Realty Services (PSRS) Genworth Life Insurance Company. 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.

 

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ShareMD Acquires Palm Beach County Medical Office Building

2828 S. Seacrest Boulevard

Easton & Associates advised ShareMD, a healthcare real estate and physician practice solution company, on the value-add acquisition of a 31,747-square-foot medical office building in Boynton Beach, Florida. ShareMD paid $6.45 million in the off-market deal that closed May 21. The seller was Redfearn Capital.

The two-story building, located at 2828 S. Seacrest Boulevard, across the street from Bethesda Hospital East, is approximately 84% occupied. It is anchored by Orthopaedic Surgery Associates. Other key tenants include an imaging center, rehab center and an OBGYN clinic.

“Boynton Beach’s robust population growth and the building’s proximity to a major hospital owned by Baptist Health, fits perfectly with ShareMD’s investment strategy to acquire on-campus medical office assets in South Florida,” said LaBreche, who represents ShareMD throughout Florida. “By investing capital to modernize the building, my client hopes to improve occupancy and drive rent growth over time.”

Alpharetta, Georgia-based ShareMD has been making a big push into Florida to roll out its co-working medical suite concept which is already up and running in five Southern California locations. The company builds out clinical space for doctors and other medical professionals and then leases it by the half-day, day, week or month—allowing physicians to expand their geographic reach and save money by not being tied into long-term rents.

The Boynton Beach transaction represents the seventh medical building acquired by ShareMD in the past 20 months and increases its portfolio to 13 properties and over a million square feet of owned healthcare assets in Florida and California.

 

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