A medical office building near Northwest Medical Center in Margate traded for $11.29 million.
Montecito Medical – NW Medical Park, an affiliate of Baltimore-based LaSalle Investment Management, sold the 46,476-square-foot building to CHP Margate FL Medical Park Owner, according to the South Florida Business Journal.
The buyer secured a $7.7 million mortgage from Synovus Bank for the deal.
The property last traded for $12.2 million in 2006. [South Florida Business Journal] – Christopher Cameron