Two medical buildings in St. Augustine sold March 30 for a combined $10.35 million.
Brooks Rehabilitation, through St. Augustine MOB Ltd. of Jacksonville, sold the buildings at 190 and 200 Southpark Blvd. to a joint venture of New York-based Vanbarton Group and Ohio-based Tramview Capital Management.
The venture acquired the property through VBHC St. Augustine FL LLC of New York.
The purchase was brokered by NAI Hallmark Managing Partners Keith Goldfaden and Christian Harden, who represented the seller.
“We received incredible interest in this property given the diversified medical tenant mix and high barrier to entry location,” Goldfaden said in a news release.
“The ability to transact on this property in an environment in which short term interest rates increased by over 400% is a testament to the resiliency of well located medical office product.”
The two buildings, built in 1998, sit on 0.77 acre. The 190 Southpark building is 16,011 square feet and 200 Southpark structure is 17,535 square feet.
The buildings are adjacent to Flagler Hospital.
Brooks Rehabilitation purchased the property for $513,000 in 1996 from St. Aug Southpark Ltd.