Medical Building Trades For Nearly $500 PSF

A medical office building in Aventura traded for $19.3 million, or

Tanglewood Management sold the 41,000 square foot building, located at 2929 Aventura Boulevard, on April 25, according to Miami-Dade County records. Tanglewood paid $12.7 million for the property in April 2008.

The buyers are 385 Rena Realty and 526 West Realty. Both companies are registered in New York but have an Aventura mailing address. Arnold Wax is identified in New York corporate records as the CEO of the companies.

The 2929 Aventura Boulevard transaction closed one week before the $26 million sale of an office building on the campus of Miami’s Mercy Hospital and a $47 million deal that included the Metropolitan Hospital of Miami.

 
Source: The Real Deal