Baptist Health continues buy streak with $44M deal

TRD MIAMI /
Oct.October 14, 2013 01:30 PM

Baptist Health South Florida has paid $43.75 million for a Coral Gables office building, the latest in a $96 million acquisition streak for the nonprofit hospital operator.

Baptist Health bought the 276,274-square-foot Atrium building at 1500 San Remo Avenue, next door to its headquarters. The seller was Fund VII Atrium San Remo, which paid $43.8 million for the property in 2006, according to public records.

Ralph Lawson, an executive at Baptist Health, told the South Florida Business Journal that it bought the 1984 building because it already leases space there. Lawson also discussed Baptist Health’s recent $30.4 million acquisition of a hotel at 9100 North Kendall Drive, also adjacent to the company’s headquarters.

The “hotel is contiguous to our campus and it is prime real estate from our standpoint,” Lawson told the Business Journal. “We plan to construct a cancer institute on our campus and that will give us additional flexibility.”

The Business Journal did not include a comment from the seller. [South Florida Business Journal]  – Hiten Samtani


Related Articles

arrow_forward_ios
From left: Phil Gutman, Camilo Lopez and Herve Barbera, with Ofizzina

Bar Invest Group buys office condos in Coral Gables, plans new HQ

Masoud Shojaee and 3650 Bird Road (Credit: Google Maps)

Shoma plans two-tower rental project near Coral Gables

Greystar’s Bob Faith, The Mile (Credit: BuzzBuzzHome)

Greystar sells The Mile apartments for $40M

6855 Sunrise Drive (Credit: Google Maps)

Financier drops $13M for waterfront Coral Gables estate

Liz Hogan and 21 Casuarina Concourse

The biggest piece of land in Gables Estates just hit the market for $50M

A rendering of CocoWalk (Credit: iStock)

Sweetgreen expanding to Florida with first locations in Miami

5400 Hammock Drive and Timbaland (Credit: Getty Images)

Timbaland drops $8M on Coral Gables mansion

506 Sunset Drive and Justise Winslow (Credit: Getty Images)

Justise Winslow scores Coral Gables home

arrow_forward_ios
Loading...