Medical co-working space operator buys Miami medical campus

UPDATED, Nov. 5, 2020, 12:23 p.m.: An owner and operator of medical co-working space bought a medical office campus in Miami from a company with ties to Florida’s former lieutenant governor.

Alpharetta, Georgia-based ShareMD bought the three-building, 10-acre property at 7400, 7500 and 7800 Southwest 87th Avenue, according to a press release. The company declined to provide the purchase price.

Affiliates of Pan American Companies, led by principal Carlos Lopez-Cantera, sold the properties, which are about a mile away from Baptist Health South Florida’s Kendall campus.

Lopez-Cantera’s son, also named Carlos, was lieutenant governor from 2014 to 2019 under former Florida Gov. Rick Scott.

Starwood Mortgage Capital provided ShareMD with financing to purchase the 177,000-square-foot medical campus. PSRS arranged the financing. Miami-based Ideal Management and FIP Realty Services represented ShareMD.

The Pan American affiliates paid a combined $11.9 million for the buildings at 7800 and 7400 Southwest 87th Avenue between 1997 and 2000, property records show. They were built between 1989 and 2014.

ShareMD now owns 12 buildings and more than 1 million square feet of healthcare assets in Florida and California, according to the release. The company is backed by private equity firm Martis Capital.

Last year, ShareMD paid $33.2 million for the buildings at 5966 South Dixie Highway and 475 Biltmore Way. Each is about 50,000 square feet.

The company is led by CEO John Bardis, a former assistant secretary for administration at the U.S. Department of Health and Human Services under President Trump. He served for about a year.

The sale comes despite Covid-19’s potential impact on the office market.

Other recent South Florida medical office sales include Kayne Anderson Capital Advisors’ purchase of a medical office complex in Lake Worth Beach for $7.3 million and a medical office building in West Palm Beach that sold at a discount for $5.2 million.