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South Florida

Health REIT buys Palm Beach medical complex for $49.5M

Bethesda Health City
Bethesda Health City

The Bethesda Health City medical complex west of Boynton Beach has sold for $49.5 million, according to a deed filed Tuesday.

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The buyer is Health Care REIT (NYSE: HCN), the Toledo, Ohio-based landlord that owns 80 properties in Florida, the Palm Beach Post reported. The sellers, Investcorp and Flagler Investment, paid the nonprofit Bethesda Health System $37 million for the property in 2011.

Bethesda Health City, 10301 Hagen Ranch Road, includes 133,000 square feet of offices on 35 acres near Bethesda West Hospital. [Palm Beach Post] — Emily Schmall

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Boynton BeachREITS