HREI interviews founder Elliott LaBreche about his fast-growing investment/brokerage firm
By John B. Mugford
One of the recent acquisitions by Vitalis and its joint venture partner Advenir was the 41,620 square foot Lee Health MOB at 13340 Metro Parkway in Fort Myers, Fla., which the Florida-based partners acquired in May 2022 for $21.78 million. (Photo courtesy of Vitalis)
A new name sure seems to keep popping up in the medical office building (MOB) acquisitions market, both for making purchases itself and for brokering sales for other owners.
The company is Miami-based Vitalis, which was launched just last year and is led by Elliot LaBreche, who has been involved in tenant representation in South Florida since 2013. The Vitalis managing director and founder was previously with locally based the Easton Group, a commercial real estate services firm, and the local office of Jones Lang LaSalle Inc. (NYSE: JLL).
According to Mr. LaBreche, Vitalis is “a fully integrated healthcare real estate (HRE) company that owns and operates stabilized medical office and life science assets that align with our investment thesis. We also provide advisory services, including tenant representation, investment sales and consulting to the (HRE) and private equity industry.”
Since its launch in October 2021, Vitalis, which makes its acquisitions in partnership with Aventura, Fla.-based Advenir, a firm heavily focused on multifamily and residential real estate, has made MOB acquisitions totaling about $75 million.
Mr. LaBreche tells HREI that “92 percent of our portfolio is occupied by investment-grade tenants,” adding that the firm has “another $30 million worth of purchases under contract.”
The Vitalis/Advenir partnership’s most recent purchase, according to the firm, was
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