FORT LAUDERDALE, FL—Memorial Hospital Pembroke, a 179,745-square foot hospital in Pembroke Pines, is up for sale again. Marcus & Millichap just listed the asset for $54 million with a 8.58% cap rate.
M&M listed the hospital about three and a half years ago at $62 million with a 7% cap rate. The hospital’s ownership entity and the hospital itself are both nonprofits.
“We are targeting either high net worth individuals who possibly have a foundation or are philanthropic in nature,” Adam J. Tiktin, a vice president investments in Marcus & Millichap’s Miami office, tells GlobeSt.com. “This is a zero cash flow transaction.”
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