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, under 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 covers 98.2 acres.
The transaction involved Cresa Partners as the buyer’s representative and Alfredo Riascos from Gridline Properties representing 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 bought the 1.2-acre site in 1995 for $1.3 million. The original structure was completed in 1962, with an addition built in 1985 that added over 8,000 square feet. Current tenants include ADC Ambulatory Diagnostics Center, CBC Breast Imaging Center, The Neurology Group and Integrated Comprehensive Urgent Care.
The press release notes that Almeida is the daughter of Jaime Pozo, who was known for his early investments in South Florida’s medical office market and died in 2022.
Baptist Health operates 12 hospitals and about 200 care and office facilities across South Florida, making it the largest health care provider in the region according to its website.
Last month, Baptist Health acquired two other medical-use properties for a combined $40 million. This included paying $26 million for a ground lease on a three-story medical office building in Boynton Beach and purchasing a development site in Sunrise for another $14.2 million. Plans are underway to build Baptist Health Sunrise Hospital on this new site—a seven-story facility with 100 beds and offices.
In addition to these purchases, Anchor Health Properties based in Charlottesville is developing a rehabilitation center for Baptist Health in South Miami. This four-story project will have 92 beds and an adjacent garage with space for 180 vehicles; it received a construction loan of $58.4 million last year.
