REIT Buys Medical Office Building For $50 Million

Sep 18, 2013 No Comments by

Investcorp International has pulled in a $12.5 million profit from the sale of a Boynton Beach medical office building less than two years after acquiring the property.

BHC Holdings LL LLC, managed by New York-based Investcorp, sold the 133,348-square-foot Bethesda Health City on Friday for $49.5 million, according to Palm Beach County records. It paid $37 million for the 17-year-old building at 10301 Hagen Ranch Road in October 2011.

HRCI 10301 Hagen Ranch Properties LLC is the buyer. The company shares a Toledo, Ohio, address with Health Care REIT Inc.

An outpatient medical building, Bethesda Health City has four wings connected to a central atrium. The nonprofit Bethesda Health operates Bethesda Memorial Hospital near the medical building.

 

Source: DBR

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Industry News, NA, Office, Palm Beach County Office
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