Lake Health’s Beachwood Medical Centre at 25501 Chagrin Blvd. in Beachwood was bought for $58,250,000 to Montecito Medical, a Nashville-dependent expert in healthcare qualities, according to Cuyahoga County land records.
The setting up was initially held by Manna Isle Ohio LLC, a physician-led partnership. The sale was represented by Newmark World wide Health care Providers and was finalized April 26. According to community data, Newmark World wide Health care acquired the 4.9-acre web-site in August 2017 for $3.2 million.
The 69,800-sq.-foot healthcare facility broke ground in 2018, in a partnership with Lake Health and College hospitals. It opened in April 2019 and characteristics 25 beds, a 24-hour unexpected emergency area, and specializes in pain management, urology, backbone and orthopedics. The medical center also attributes a Bikur Cholim area for clients and their households.
Beachwood Health care Center was Lake Health’s initially medical center outside the house of Lake County, and in 2019, University Hospitals became a minority partner. By April 2021, Lake Health became a member of the College Hospitals health procedure. College Hospitals also owns Ahuja Healthcare Centre, a 144-bed clinic at 3999 Richmond Street in Beachwood.
The Newmark brokerage team facilitating the transaction integrated vice chairmen Todd Perman and Terry Coyne, with each other with senior handling director Jay Miele and affiliate director Richard Gerakitis.