ProMed picks up MOBs in N.Y., Florida
ACQUISITION IN WHITE PLAINS, N.Y., INCLUDES LAND FOR FUTURE DEVELOPMENT
By John Mugford
ProMed Properties Group has certainly been pro-medical office buildings (MOBs) in recent weeks. The North Miami Beach, Fla.-based company closed on two acquisitions: a five-MOB campus with a total of 189,000 square feet in White Plains, N.Y., and a six-story MOB with 53,700 square feet in South Miami, Fla.
ProMed paid $53.3 million for the portfolio in White Plains, which sits on 14.3 acres and includes room for the potential development of another outpatient facility. ProMed would like to attract an academic medical center and/or hospital to such a development.
The five MOBs are 96 percent occupied and are located near four hospitals with a total of 1,500 beds. ProMed is also pro-Westchester County, as it notes that the population within a five-mile radius of the MOBs is 205,000 and the average household income is about $145,000.
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