Wellington Medical Office Trades For $18 Million

Wellington Regional Medical Center’s medical office, Wellington Medical Arts Pavilion III, sold for $18.25 million.

The ground lease for the 49,832-square-foot medical office complex at 1397 Medical Park Blvd. was sold by HTA – Wellington LLC, a division of Nashville-based Healthcare Realty Trust.

1397 Medical Park Blvd Owner LLC, a joint venture between Apollo Equity Investors and Rendina Healthcare Real Estate, located in Jupiter, was the purchaser. The buyer obtained a $12 million mortgage from Seacoast National Bank. The purchase price equates to $366 per square foot.

The building last traded for $12.82 million in 2010.

 

Source:  SFBJ