Anchor Health JV Grows Miami Footprint

The partnership acquired a medical office building in Delray Beach.

4675 Linton Blvd. Image courtesy of Anchor Health Properties

Anchor Health Properties, in a joint venture with Harrison Street, has acquired a 31,886-square-foot medical office building in Delray Beach, Fla. According to Palm Beach County records, the property sold for $14.9 million and the buyer received an acquisition loan of $15.1 million from Capital One.

CommercialEdge data shows that the Class A asset previously traded in 2018, when the previous owner, Flager Investment, bought it for $9.8 million.

The two-story medical office building came online in 2005. Anchored by an outpatient surgery center owned by Tenet Healthcare, the asset was fully leased at the time of sale. The roster also features Florida Pain Management Institute, South Palm GI and Gastro Health. On-site specialty care services include pain management, urology, general surgery, gastroenterology, colorectal surgery and cancer care.

Located at 4675 Linton Blvd. just east of South Military Trail, the property is 6 miles from Boca Raton and 23 miles from West Palm Beach. The Tenet-owned Delray Medical Center is 1 mile away.

Greg Trainor, managing partner with Fairfield Asset Advisors, and Len Blackman, managing principal at Leklen Realty, brokered the transaction. Albert Lord, investment manager with Anchor, led the acquisition.

In June, Anchor Health and Harrison Street acquired another metro Miami property. Starwood Capital Group sold the 95,777-square-foot medical office building in Plantation, Fla., for $45.5 million.

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