Anchor Health JV expands footprint in Miami – Commercial Property Manager
The partnership acquired a medical office building in Delray Beach.
Anchor Health Propertiesin joint venture with Harrison Streetacquired a 31,886 square foot medical office building in Delray Beach, Florida. According to Palm Beach County records, the property sold for $14.9 million and the buyer received a $15.1 million acquisition loan from Capital one.
Data from CommercialEdge shows the Class A asset was previously traded in 2018, when the previous owner, Flager investmentbought it for $9.8 million.
The two-story medical office building came online in 2005. Anchored by an outpatient surgery center owned by Tenet Healthcare, the asset was fully leased at the time of the sale. The list also includes the Florida Pain Management Institute, South Palm GI and Gastro Health. On-site specialty care services include pain management, urology, general surgery, gastroenterology, colorectal surgery, and cancer care.
Located at 4675, boul. Linton. just east of South Military Trail, the property is 6 miles from Boca Raton and 23 miles from West Palm Beach. Tenet-owned Delray Medical Center is 1 mile away.
Greg Trainor, Managing Partner of Fairfield Asset Advisorsand Len Blackman, CEO of Leklen Realty, negotiated the transaction. Albert Lord, chief investment officer at Anchor, led the acquisition.
In June, Anchor Health and Harrison Street acquired another Miami Metro property. Starwood Capital Group has sold the 95,777 square foot medical office building in Plantation, Florida for $45.5 million.