$45.5M Off-Market Sale Highlights Demand For Medical Office Space
The medical office building is leased long-term to the University of Miami (UM) Hospital.
non-advertiser
The medical office building is leased long-term to the University of Miami (UM) Hospital.
Quickly rising interest rates accelerated the loan closing as the lender was only willing to hold a very favorable rate for a short period of time. The loan also included additional funding for the development of a vacant outparcel located on the site.
The buyers intend to convert the property to art gallery and creative space.
An Ares Management Real Estate fund acquired the assets.
The JLL Capital Markets team representing the seller was led by Senior Director Maxx Carney and Managing Director Ike Ojala.
Miller began the site work in January and aims to complete the project this summer.
They will join Team Kingsley-Rutchik and focus on office services out of their Brickell office.
The industrial fund intends to identify and make investments over the next 24 months with various operating partners.
Greg Matus, Adam J. Tiktin, Jonathan de Maa, and Alex Lazo of Franklin Street’s Florida Investment Sales Team represented the buyer in this transaction.
New Associate Adam Docktor specializes in retail leasing and investment sales in emerging markets.
CRE-sources, Inc. is committed to ensuring that individuals with disabilities can access all of the goods, services, facilities, privileges, advantages, and accommodations that we offer through our website.If you are having trouble accessing the website, please call us at 954.290.3866 for assistance.
