University of Miami expands South Florida medical office portfolio with $16M buy

UHealth, the health care division of the University of Miami, continues expanding its portfolio of South Florida medical office facilities after acquiring a Deerfield Beach building for $16.4 million. Coral Gables-based UHealth bought a 45,136-square-foot building at 1192 East Newport Center Drive, records show. The two-story facility is leased to the health system’s Sylvester Comprehensive Cancer Center. The University of Miami is led by President Joe Echevarria.  The deal breaks down to $363 per square foot. UHealth paid roughly $7 million above the previous sale price 14 years ago.  The seller, an affiliate of Toledo, Ohio-based Welltower, paid $9.5 million […]This article originally appeared on The Real Deal. Click here to read the full story.