UHealth, the health care division of the University of Miami, continues to expand its portfolio of South Florida medical office facilities after acquiring the Deerfield Beach Building for $16.4 million.
Records show Coral Gables-based UHealth bought the 45,136-square-foot building at 1192 East Newport Center Drive. The two-story facility is leased to the health system’s Sylvester Comprehensive Cancer Center. The University of Miami is headed by President Joe Acturia.
That deal breaks down to $363 per square foot. UHEALTH paid nearly $7 million over the previous sale price 14 years ago.
The seller, an affiliate of Toledo, Ohio-based Well Tower, paid $9.5 million for the 3.1-acre site in 2011, records show. The sale to Uhealth is part of the sale of Well Tower’s $6 billion medical office portfolio.
Completed in 2001 in the Newport Center Business Park, the building houses a radiation oncology center and a chemotherapy infusion unit.
Yehil Health also owns an adjacent medical office building at 1300 East Newport Center Drive in Deerfield Beach, which it purchased in 2018 for $8.2 million, records show.
According to the health system’s website, the latest acquisition of Deerfield Beach is part of UHEALTH’s growth strategy outside of its main campus in the Miami Health District of Alpata. In January, UHealth leased 11,200 square feet at Northwest 87th Avenue and Northwest 53rd Terrace for a new medical outpost, offering the services of the Bascom Palmer Eye Institute and physical therapy programs.
The health system also leases the six-story, 160,000-square-foot Uhealth Doral Medical Center within downtown Doral, a large-scale mixed-use community master-developed by Coral Gables-based Codena Partners.
In December, UHealth acquired three commercial properties near its Alpata medical school campus for a combined $68 million, including a medical office – a parking lot just north of Jackson Memorial Hospital. Last summer, UM paid $40 million for a former Macy’s furniture store at 13251 South Dixie Highway in Pinecrest, signaling another potential health care expansion.
