FOR IMMEDIATE RELEASE
Both assets were sold off-market, located at 10151 Enterprise Center Blvd, Boynton Beach, FL and 7593 W Boynton Beach Blvd, Boynton Beach.
Boynton Beach, FL (December 21, 2021) Elliot LaBreche and Abigail Kind of Vitalis arranged the sale of a ~100,000-square-foot medical office portfolio in Boynton Beach, FL. ShareMD’s George Scopetta and Zachary Brooks purchased the portfolio for approximately $38M from Cleveland, Ohio based Woodside Health. Ben Barr led the sale process on behalf of Woodside. The transaction closed December 20th.
“This transaction solidifies ShareMD’s position as one of the largest medical office owners in the market.” Said Scopetta.
In Q2 of 2021 LaBreche and Kind advised on ShareMD’s $6.5 M acquisition at 2828 S Seacrest Blvd in Boynton Beach. The Boynton Beach acquisitions increase ShareMD’s medical office portfolio in Florida to over 800,000 SF.
“We created a win-win for ShareMD and Woodside Health when we pitched the opportunity to acquire both assets in 2020.” Said LaBreche “These buildings are 86% leased and 100% of rents have been collected during the pandemic reinforcing the investment thesis that medical office outperforms during economic downturns.”
The Vitalis team has closed transactions in Texas, South Carolina, Florida, Massachusetts, Wisconsin, Pennsylvania and has deals under contract in Illinois, Alabama and Virginia set to close in Q1 of 2022. Total deal volume exceeded $100 million in 2021.
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Elliot LaBreche is the founder of Vitalis, a vertically integrated real estate investment company focused on medical office and life science investment sales, acquisitions, and leasing across the US.
Alpharetta, Georgia-based ShareMD owns and manages medical office buildings as a healthcare operator. In each of its buildings, the company aims to create a unique ecosystem and offer an all-inclusive tenant experience through the provision of value-add, ancillary services. For more visit www.sharemds.com
Headquartered in Cleveland, OH, Woodside Health is a medical office building acquisition and management company. Since 2008, the firm has acquired over $350 million in medical real estate and continues to expand its presence across the United States. The firm’s principals have decades of experience investing in and managing real estate. Woodside Health views their tenants as partners and is committed to building long-term relationships while providing best-in-class property and service. For more information, please visit www.WoodsideHealth.com.
Media Contact: Abigail Kind, 802.881.9278
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