South Florida sees multi-million dollar healthcare investment

September 30, 2013 by  

The South Florida area has benefited from $63m worth of investment ploughed into six of its medical centers, one of which is based in Hialeah.

Arizonan medical office owner Heathcare Trust of America, Inc. has snapped up the Palmetto Medical Plaza, which forms part of the General Hospital, along with five other medical office buildings (MOBs) in West Palm Beach, Ft. Lauderdale, and Miami, encompassing in excess of 400,000 square feet.

Healthcare Trust’s CEO and chairman, Scott D. Peters, enthused:

“We are excited to enter into the South Florida market in a significant way. These are the type of high-quality, on-campus MOBs that we believe will be core, critical real estate as healthcare continues to expand and evolve in this country.”

Peters went on to say that South Florida’s fast population growth, combined with its popularity among people seeking a place to retire, makes it a very investable location for companies involved in the healthcare sector.

The crown jewel of the company’s purchase, it says, is the capture of the Victor Farris Medical Office Building based in West Palm Beach. More than 150,000 square feet in area, it was about 86% full at the time of its closure. The Hialeah MOB is the second-largest of the six, and was closer to 90% occupied. The average occupation rate among the MOBs is placed at around 88%.

All of Healthcare Trust’s purchases are of centers linked to Tenet Healthcare, and are based on hospital campuses.