Welltower’s Coral Springs medical office buy is part of $1.25B portfolio acquisition

The firm bought the portfolio from CNL Financial, adding to its South Florida projects.

TRD MIAMI /
May.May 23, 2019 09:45 AM
 2901 Coral Hills Drive and Welltower CEO Thomas J. DeRosa

2901 Coral Hills Drive and Welltower CEO Thomas J. DeRosa

Welltower bought a Coral Springs medical office building as part of a $1.25 billion portfolio acquisition from CNL Financial.

The Toledo, Ohio-based healthcare real estate investment trust purchased the office building at 2901 Coral Hills Drive for $18.35 million, records show.

The building totals 54,484-square feet and sits on 3.6 acres in front of Broward Health Coral Springs. It was constructed in 2005.

The deal is one of the 55 Class A medical office buildings Orlando-based CNL sold to Welltower on May 15. The Coral Springs office building’s tenants include Sanitas Medical Center, a primary, specialty and urgent care provider.

Welltower mostly invests in senior housing, assisted living and memory care communities, post-acute care facilities and medical office buildings, as well as hospitals, according to its website.

The company has a number of projects in South Florida. In February, a joint venture between Welltower and Revera Living scored a $25.2 million construction loan for its Sunrise of Boynton Beach senior living facility in Palm Beach County.

Last year, Welltower paid $130 million  for a senior living community in Boca Raton.


Related Articles

arrow_forward_ios
4290 Professional Center Drive (Credit: Google Maps)

Showroom and office building sell for $10M in Palm Beach Gardens

Office rents rise across SoFla

Here’s why office rents are going up in South Florida

3201 Southwest 15th Street (Credit: Google Maps)

“Chicken Soup for the Soul” publisher sells Deerfield Beach building

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

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

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

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

AmTrust office building at 2701 Ponce de Leon in Coral Gables

AmTrust Bank building sells in Coral Gables

1700 Palm Beach Lakes Boulevard, and from left, Scott O'Donnell, Mike Ciadella, Dominic Montazemi, Gregory Miller and Miguel Alcivar (Credit: Google Maps)

Capstone buys office building in West Palm Beach for $19M

arrow_forward_ios