Baptist Health South Florida has acquired a medical office building in Kendall for $14.2 million, continuing its expansion of real estate assets in the region. The two-story property is located at 9090 Southwest 87th Court, close to Baptist Health’s main campus, which spans 98.2 acres.
The purchase price equates to $650 per square foot, which Alfredo Riascos of Gridline Properties described as among the highest rates paid for office space in the Kendall submarket. Cresa Partners represented Baptist Health in the transaction, while Riascos represented the seller, an entity managed by Yvette Almeida of Miami.
According to records, Almeida’s entity bought the 1.2-acre site for $1.3 million in 1995. The original building was constructed in 1962 with an additional 8,382 square feet added in 1985. Current tenants include ADC Ambulatory Diagnostics Center, CBC Breast Imaging Center, The Neurology Group and Integrated Comprehensive Urgent Care.
The press release notes that Almeida is the daughter of Jaime Pozo, recognized as a pioneer in medical office investments in South Florida who passed away in 2022.
Baptist Health operates twelve hospitals and about two hundred medical care and office facilities across South Florida, making it the largest healthcare provider in the area according to its website. In July, Baptist Health purchased two other properties for a combined total of $40 million: a ground lease on a three-story medical office building in Boynton Beach for $26 million and a development site spanning over twenty-six acres in Sunrise for $14.2 million.
Plans are underway for Baptist Health Sunrise Hospital on that Sunrise property—a seven-story facility with one hundred beds and associated offices—according to city records.
Additionally, Anchor Health Properties from Charlottesville is constructing a four-story rehabilitation center with ninety-two beds and an adjacent parking garage with one hundred eighty spaces for Baptist Health in South Miami; this project secured a construction loan worth $58.4 million last year.
“Almeida is the daughter of the late Jaime Pozo, a pioneer in medical office investments in South Florida,” according to the press release.
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