HealthGains scoops up Integra’s medical office condos at Aventura ParkSquare

The company paid more than $7 million for 11 units at ParkSquare Wellness

Apr.April 23, 2018 06:00 PM

Rendering showing the ParkSquare Wellness and Integra Investments’ Victor Ballestas (Credit: Integra Investments)

UPDATED, 7:30 p.m., April 23: HealthGains just bought the entire ninth floor at Integra Investment’s ParkSquare Wellness development, and has scored construction financing to build out the space, property records show.

Park Square Holding LLC, led by HealthGains’ Mark White, paid a little more than $7 million for 11 units at ParkSquare Wellness, a 41,000-square-foot wellness medical center at 2920 Northeast 207th Street. The total square footage amounts to about 15,600 square feet.

The building is part of Aventura ParkSquare, which includes a new 207-key Aloft Hotel, a 131-unit luxury residential condo tower, and a 100,000-square-foot office building called ParkSquare Signature. A 141-unit assisted living facility is under construction.

Integra executive Eduardo Otaola said ParkSquare Wellness’ medical office space is 100 percent sold. The building also features about 13,000 square feet of ground-floor retail, leased to tenants including Barry’s Bootcamp, Cycle House and Graziano’s restaurant.

HealthGains provides hormone replacement therapy and anti-aging and sexual wellness services.

Records show Park Square Holding LLC scored a $7 million construction loan from CenterState Bank of Florida. Otaola said the company is aiming to move in sometime over the next two months.

Integra purchased the land for $21 million in 2013, after plans for another mixed-use development dubbed City Park Aventura fell through. Since then, the developers have accumulated more than $100 million in financing for the project. So far, it’s residential component is 80 percent sold, while ParkSquare Signature is 100 percent sold, according to Otaola.

Correction: A previous of the article misrepresented the square footage HealthGains purchased. 

Related Articles

Victor Ballestas and Eduardo Otaola with a rendering of 1674 Meridian Avenue

Integra Investments, partner buy Miami Beach office building near Lincoln Road

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

South Florida firm, partner acquire Tampa office building for $29.4M

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Moishe Mana plans mixed-use project with logistics theme next to airport in Panama

Power restored after blackout envelopes West Side of Manhattan