Tag Archive for: university of miami hospital

$45.5M Off-Market Sale Highlights Demand For Medical Office Space

8100 SW 10th St 760x320

Colliers and Avison Young closed on the sale of Crossroads III, a suburban Class A medical office building located at 8100 SW 10th Street in Plantation.

Executive Managing Director Mark M. Rubin, Director Bastian Laggerbauer, and Financial Analyst Jake Stauber of the Colliers South Florida Investment Services Team collaborated with Justin Cope and Greg Martin of Avison Young in representing the buyer, Anchor Health Properties.

The off-market transaction totaled $45.5 million or $475 psf.

“The South Florida market continues to thrive and see high demand for medical office properties with strong tenancy,” said Rubin. “In this highly competitive market, we’re pleased to have assisted our client within a short timeframe in acquiring a high-quality asset that will complement their existing national portfolio.”

The medical office building is leased long-term to the University of Miami (UM) Hospital. The University of Miami Health System focuses on delivering leading-edge patient care by the region’s best doctors, powered by groundbreaking research and medical education. UM plans to expand to the entire property and add a state-of-the-art 15,000-square-foot radiotherapy center.

“This was a prime opportunity for the buyers to acquire a class A medical office asset leased by a credit long-term tenant, off-market, prior to the asset being widely marketed,” said Laggerbauer. “The buyer already owns another asset leased by UM.”

Anchor Health Properties is a national full-service healthcare real estate company focused exclusively on medical facilities. The Virginia-based company fosters strong programmatic relationships within healthcare, real estate, and finance with more than $1 billion of completed development projects, more than 7.5 million square feet under management, and more than $2 billion invested in stabilized healthcare facilities.

Plantation is home to some of the leading healthcare and medical office tenants in South Florida, including the University of Miami Health System, Sunshine State Health, Humana, Aetna, and Masa Global. Broward County, mainly Plantation, is an attractive investment market due to its proximity to dense residential neighborhoods, corporate campuses, and hospitals such as Plantation General Hospital, Mercy Hospital, Memorial Hospital, and HCA Florida University Hospital, all within an 8-mile radius of the city.

Limited medical office construction continues to keep the supply tight and rents competitive, currently at $32.28 per square foot gross. Demand for medical office space has been elevated since the pandemic’s start as the product type proved to be resilient, high-yielding, and recession-proof. The outlook for medical offices remains positive as the healthcare needs in South Florida continue to expand in line with population growth.

 

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This Hospital Is The Highest Ranked In Florida, According To U.S. News & World Report

Baptist Hospital of Miami ranked No. 1 in South Florida and No.6 in the state in the ranks of best hospitals in a new report from U.S. News & World Report.
The nonprofit hospital was one of 12 South Florida hospitals to get a “best” designation, according to the publication’s 2017-18 rankings published Tuesday morning. It was one of four Baptist Health South Florida hospitals in the rankings.

“We are very proud that Baptist Hospital earned the top spot in our area for its commitment to excellence. We share this first-rate recognition with our physicians, nurses and employees, who carry out our mission of providing high-quality, compassionate healthcare to our patients,” said Brian E. Keeley, president and CEO of Baptist Health. “To be honored among the best hospitals locally and in the nation validates that we are meeting and surpassing the high standards we set for our organization and that results in great patient care.”

Nationally, the Mayo Clinic claimed the No. 1 spot for the second year in a row, followed by Cleveland Clinic at No. 2 and Johns Hopkins Hospital at No. 3. The highest ranked hospital in Florida was once again Mayo Clinic Jacksonville in the No. 1 position.
U.S. News releases the rankings to help patients make more informed health care decisions, the publication said in a news release.
Other South Florida hospitals in the 2017-18 U.S. News report and their rankings in Florida are:
– Cleveland Clinic Florida, No. 2 in South Florida and No. 8 in the state.
– Holy Cross Hospital, No. 3 in South Florida and No. 10 in the state.
– University of Miami Hospital, No. 4 in South Florida and No. 12 in the state.
– Memorial Regional Hospital, No. 5 in South Florida and tied for No. 14 in the state.
– Boca Raton Regional Hospital, South Miami Hospital, West Kendall Baptist Hospital tied for No. 6 in South Florida and tied for No. 16 in the state.
– Bethesda Hospital East, Homestead Hospital and Mount Sinai Medical Center tied for No. 9 in South Florida and tied for No. 23 in the state.
– Memorial Hospital West, No. 12 in South Florida and tied for No. 33 in the state.
For the 14th consecutive year, U.S. News & World Report ranked the Bascom Palmer Eye Institute of the University of Miami Health System as the No.1 hospital in the nation for ophthalmology.

“Our patients inspire Bascom Palmer’s superb team of 1,200 doctors, scientists, nurses, ophthalmic technicians and support staff to excel in patient care, vision research, education and surgical innovation,” said Dr. Eduardo C. Alfonso, chairman of Bascom Palmer Eye Institute. “Ensuring personalized, exceptional care for each of our patients is our priority. The fact that ophthalmologists from around the country recognize us as the best in the nation again and again is a great honor.”

Source: SFBJ
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