The Real Deal Miami

Miami hospital part of $47M transaction

Tampa company acquires seven-property site, inks 15-year lease with operator
By Eric Kalis | May 05, 2014 10:30AM

Metropolitan Hospital of Miami

Metropolitan Hospital of Miami

The Metropolitan Hospital of Miami was part of a $47 million sale of seven properties, The Real Deal has learned.

Metropolitan Health Community Services Corp. sold the 5959 Northwest Seventh Street hospital on Wednesday, according to Miami-Dade County records. The transaction also included one office building, four residential properties and a vacant commercial parcel. Miami-Dade County recorded the sale on Friday.

The nearly 135,000-square-foot private hospital was constructed in 1962.

HC-5959 NW 7th Street is the buyer. The Tampa-based company did not obtain financing for the acquisition. It shares a mailing address with investment advisor Carter/Validus Operating Partnership.

A separate lease agreement between HC-5959 and Miami International Medical Center was also recorded on Friday. The 15-year lease includes three renewal options at five years apiece.

The Miami Herald reported in February that a subsidiary of Kansas-based Nueterra Healthcare was close to acquiring the hospital and renaming it Miami International Medical Center. Major renovations are expected.