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WELLINGTON, FLA. — Rendina Healthcare Real Estate and joint venture partner Artemis Real Estate Partners have purchased Wellington Medical Arts Pavilion III, a 48,000-square-foot medical office building in Palm Beach County. The four-story property is situated on the Wellington Regional Medical Center campus, a Universal Health Services (UHS) hospital. The undisclosed seller sold the asset for $18.3 million.
The property was 91 percent leased at the time of sale to tenants including UHS, Sanitas Medical Center, Gastro Associates of Florida, Conviva Care Centers and Physician Partners of America. Rendina Healthcare was the original developer of Wellington Medical Arts Pavilion III in 2006.