Asset: An 18,026-square-foot medical office building consisting of about six medical tenants.
Location: Miami/Kendall, FL
Sale price: $5.45 million, or $302 per square foot
Representation: Buyer and Seller
Challenges: The owner of this property contacted Alex for his knowledge of medical office buildings and his ability to identify private party investors. This property is located directly across Baptist Hospital, one of the preeminent medical facilities in Florida. The challenge was the asset had a few vacancies and because of this the ownership’s pricing expectations were very high.
Outcome: Through one of his presentations in Argentina at a real estate conference, Alex identified an investment group that was looking to deploy capital in the US in properties considered “safe” in order to minimize their risk. A well-located medical office building such as this one suited their investment criteria. However, this group had never invested in the U.S. and needed the appropriate guidance throughout the entire process, including underwriting, market analysis, financing and putting a contract. Alex was able to assist them in navigating the various stages of the process to a successful closing.