The Real Deal Miami

Aventura medical office building fetches $19.3M

New York-registered companies buy nearly 41,000-square-foot facility, get $12.7M loan
May 06, 2014 01:30PM

2929 Aventura Boulevard

2929 Aventura Boulevard

A medical office building in Aventura traded for $19.3 million.

Tanglewood Management sold the 2929 Aventura Boulevard property on April 25, according to Miami-Dade County records. The county recorded the sale of the nearly 41,000-square-foot building on Monday. Tanglewood paid $12.7 million for the property in April 2008.

The buyers are 385 Rena Realty and 526 West Realty. Both companies are registered in New York but have an Aventura mailing address. Arnold Wax is identified in New York corporate records as the CEO of the companies.

Cantor Commercial Real Estate Lending gave the buying companies a $12.7 million mortgage.

The 2929 Aventura Boulevard transaction closed one week before the $26 million sale of an office building on the campus of Miami’s Mercy Hospital and a $47 million deal that included the Metropolitan Hospital of Miami. — Eric Kalis