Baptist Health South Florida has expanded its real estate portfolio with the acquisition of a medical office building in Kendall. The Coral Gables-based healthcare provider, led by CEO Bo Boulenger, purchased the two-story property at 9090 Southwest 87th Court for $14.2 million. The building is located near Baptist Health’s main campus, which spans over 98 acres.
Cresa Partners represented Baptist Health in the transaction, while Alfredo Riascos of Gridline Properties represented the seller, an entity managed by Yvette Almeida of Miami. According to Riascos, “Baptist Health paid $650 a square foot for the building, representing one of the highest sale prices per square foot in the Kendall office submarket.”
Records indicate that Almeida’s entity acquired the 1.2-acre site for $1.3 million in 1995. The original structure was built in 1962 and later expanded with an additional 8,382 square feet in 1985. Current tenants include ADC Ambulatory Diagnostics Center, CBC Breast Imaging Center, The Neurology Group and Integrated Comprehensive Urgent Care.
The press release notes that Yvette Almeida is the daughter of Jaime Pozo, described as a pioneer in medical office investments in South Florida who passed away in 2022.
Baptist Health operates twelve hospitals and about two hundred medical care and office facilities throughout South Florida, making it the largest health care provider in the region according to its website. In July, Baptist Health bought two other medical-use properties for a total of $40 million. This included paying $26 million for a ground lease on a three-story medical office building located in Boynton Beach and purchasing a development site measuring more than twenty-six acres in Sunrise for $14.2 million.
Plans are underway for Baptist Health Sunrise Hospital on this new site—a seven-story facility with one hundred beds and associated offices—according to city records.
Additionally, Anchor Health Properties from Charlottesville is constructing a four-story rehabilitation center with ninety-two beds and an adjacent parking garage containing one hundred eighty spaces for Baptist Health in South Miami. This project secured a construction loan valued at $58.4 million last year.
