Alaimo Group Acquires JFK Medical Plaza In Palm Springs For $14.45 Million

The property asset involved in this transaction is a medical office building located at 4801 South Congress Avenue in Palm Springs, with a total area of 35,000 square feet. It was sold for a transaction amount of $14,450,000, which translates to $412 per square foot. The property was previously over 75% vacant, with existing tenants including Florida Cancer Specialists and a T-Mobile antenna.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $14,450,000
• Buyer: Alaimo Group
• Seller: Borluv Developments
• Founders/Investors: Alexander Boria
• CEO: Cesar Lang
• Director of Development: Lidia Aguilera
• Units: 2
• PPSF: $412
• Note: Borluv Developments secured a long-term lease with the Health Care District of Palm Beach County for the remaining space and executed a full interior medical-grade buildout.

This transaction features key individuals from Borluv Developments, including Lidia Aguilera, who directed the repositioning strategy leading to the successful transformation of the asset. The collective expertise of Alexander Boria and Cesar Lang contributed to the strategic acquisition and revitalization of an underutilized property, ultimately enhancing its long-term value in the healthcare sector.