53,000-square-foot hospital and 47,000-square-foot MOB will sit inside the Avenir master-planned community in Palm Beach Gardens
PALM BEACH COUNTY, Fla. (June 17, 2026) – Stonemont, an Atlanta-based private real estate investment firm specializing in healthcare and industrial development and acquisitions, today announced the groundbreaking of a 53,370-square-foot neighborhood hospital and a 47,000-square-foot medical outpatient building (MOB) in Palm Beach Gardens, Florida. Stonemont is partnering with the Sina Companies and Fengate Asset Management to deliver the projects for Jupiter Medical Center. The projects are expected to be completed by 2028.
The two-story neighborhood hospital will offer 24-hour emergency department services, 29 inpatient beds, multiple operating rooms, a diagnostic lab and imaging rooms. The MOB will span three stories and include office space for specialists in women’s health, wound care, pain management, oncology, cardiology and primary care services. Both facilities are located within Avenir, a 4,752-acre, master-planned community with high-end residences, nature-forward amenities and a Town Center featuring 400,000 square feet of retail space and two million square feet of office space.
“These projects represent a major step forward in expanding access to high-quality healthcare for the growing Palm Beach Gardens community,” said McLean Voelkel, Vice President at Stonemont. “Avenir is a thoughtfully curated neighborhood that will benefit greatly from Jupiter Medical Center’s presence in the area. Alongside our partner, we’re proud to deliver state-of-the-art facilities that will bring essential medical services closer to the Avenir community.”
Stonemont has continued to grow its healthcare platform in 2025-2026. Recent deals for Stonemont include the acquisition of a 24,622-square-foot MOB in Canton, Georgia; the acquisition of a 60,000-square-foot MOB from Northside Hospital in Smyrna, Georgia, and the acquisition of the 103,000 square foot East Cobb Medical Center in Marietta, GA.
For more information on Stonemont and its initiatives, click here.
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About Stonemont
Stonemont specializes in investing across a broad spectrum of real estate asset classes and geographies, specializing in industrial, net lease, and healthcare real estate to deliver attractive risk-adjusted returns. With over $6 billion in assets under management, Stonemont offers diversified and differentiated real estate investment strategies and vehicles to institutions, family offices, trusts and high net-worth individuals. With a combined track record of over 60 years of experience and $20 billion invested, Stonemont’s founders and managing principals are committed to delivering attractive risk adjusted returns.
About Sina Companies
Sina Companies was founded by Malcolm Sina to service a niche market in healthcare real estate, just as its predecessor DASCO Companies. After selling his company DASCO (a leading national healthcare development company) to a large, international public construction company, he examined the marketplace and realized there were ample opportunities for a nimble, entrepreneurial development company that can be keenly responsive to the healthcare provider’s needs. The opportunity to continue to service the development needs of the healthcare community, especially those of our previous clients, led to the formation of Sina Companies.
About Fengate Asset Management
Fengate is a leading alternative investment manager focused on infrastructure, private equity and real estate strategies, with more than US$7 billion of capital commitments under management. The firm has been investing in infrastructure since 2006 with a focus on mid-market greenfield and brownfield infrastructure assets in the transportation, social, energy transition and digital sectors. Fengate is one of North America’s most active infrastructure investors and developers with a portfolio of more than 50 assets. Learn more at www.fengate.com.
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