University Of Miami Acquires Medical Office In Deerfield Beach From Welltower For $16.4M

The property asset involved in this transaction is a medical office building located at 1192 East Newport Center Drive, Deerfield Beach. The asset spans 3.12 acres and has a total square footage of 45,136. The transaction was completed for a sale price of $16,400,000, equating to a price per square foot of $363.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $16,400,000
• Address: 1192 East Newport Center Drive
• Market: Deerfield Beach
• Size: 45,136 SF
• Price Per Square Foot: $363
• Buyer: Joe Echevarria - University of Miami
• Seller: Shankh Mitra - Welltower

In this transaction, Joe Echevarria represented the University of Miami as the buyer, while Shankh Mitra represented Welltower as the seller. This acquisition highlights the University of Miami's intention to expand its Sylvester Comprehensive Cancer Center presence in the Deerfield Beach area, reinforcing its active real estate strategy, which includes recent investments in the Miami Health District.