Baptist Health continues buy streak with $44M deal

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
Lease roundup: Apollo Capital expands to Brickell, Pura Vida to Coral Gables
Lease roundup: Apollo Capital expands to Brickell, Pura Vida to Coral Gables
Lease roundup: Apollo Capital expands to Brickell, Pura Vida to Coral Gables
Rishi Kapoor picks up waterfront Cocoplum home for $6M
Rishi Kapoor picks up waterfront Cocoplum home for $6M
Rishi Kapoor picks up waterfront Cocoplum home for $6M
Sergio Pino of Century Homebuilders Group and the church (Century Homebuilders, Facebook via St. James Evangelical Lutheran Church - MIAMI FL)
On holy ground: Sergio Pino’s Century Homebuilders plans apartments, school on Coral Gables church site
On holy ground: Sergio Pino’s Century Homebuilders plans apartments, school on Coral Gables church site
Terranova scores $55M refi of Miracle Mile portfolio in Coral Gables
Terranova scores $55M refi of Miracle Mile portfolio in Coral Gables
Terranova scores $55M refi of Miracle Mile portfolio in Coral Gables
Malibu firm picks up mobile home parks near Coral Gables for $50M
Malibu firm picks up mobile home parks near Coral Gables for $50M
Malibu firm picks up mobile home parks near Coral Gables for $50M
CMC Group’s Ugo Colombo and Shoma Group’s Masoud Shojaee (CMC Group, Shoma Group)
Masoud Shojaee’s Shoma wins $10M in yearslong suit against Ugo Colombo affiliate over failed condo project
Masoud Shojaee’s Shoma wins $10M in yearslong suit against Ugo Colombo affiliate over failed condo project
Miracle Mile double play: Terranova pays $8M for two Coral Gables retail sites
Miracle Mile double play: Terranova pays $8M for two Coral Gables retail sites
Miracle Mile double play: Terranova pays $8M for two Coral Gables retail sites
Boca Raton firm completes bulk purchase of 39 condos near Coral Gables
Boca Raton firm completes bulk purchase of 39 condos near Coral Gables
Boca Raton firm completes bulk purchase of 39 condos near Coral Gables
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...