The Real Deal Miami

Health REIT buys Palm Beach medical complex for $49.5M

The sellers bought the property for $37M in 2011
September 19, 2013 11:10AM

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.

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