New York Life Real Estate Acquires Medical Office In Pembroke Pines For $38.3M

The asset involved in this transaction is a medical office located at 400-700 N Hiatus Road in Pembroke Pines. The sale was completed for a total of $38,300,000, with a square footage of 91,956, resulting in a price per square foot of $416.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $38,300,000
• Square Footage: 91,956
• Price Per Square Foot: $416
• Buyer: New York Life Real Estate
• Seller: PPM Capital
• Seller's Representative: Ike Ojala, Hermen Rodriguez, Matthew McCormack, Matt DiCesare, Blake Koletic & Hunter Smith - JLL
• Date of Transaction: 6/4/2025

This transaction involved key individuals from JLL representing the seller, showcasing a collaborative effort in finalizing the deal. The buyer, New York Life Real Estate, acquired the medical office to expand their investment portfolio in the healthcare sector.