The nine special purpose entities that own a portfolio of eight medical office buildings totaling 615,000 rentable square feet on the Tenet Healthcare hospital campuses in South Florida, along with 7.8 acres of excess land related to the buildings, have traded the assets for $64.8 million.
Behringer Harvard Opportunity REIT II, Inc. acquired the portfolio of nine medical office buildings and 7.8 acres of land in south Florida in joint venture with Applefield Waxman (AW) on October 8, 2010.
Eight of the assets are located on hospital campuses. The remaining property is situated in a high-traffic area within Palm Beach Gardens.
Behringer Harvard Opportunity REIT II, Inc., through a joint venture between its indirect wholly owned subsidiary Behringer Harvard Florida MOB Member, LLC, AW SFMOB Investor, LLC and AW SFMOB Managing Member, LLC was the 90 percent owner of ground leasehold interests in the portfolio.
Behringer Harvard Florida MOB Member, LLC is the official seller. The official buyers are AW SFMOB Investor, LLC and AW SFMOB Managing Member, LLC.