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Tampa real estate firm adds to portfolio with $9.85M purchase

Sila Realty Trust has bought a West Palm Beach medical center that's occupied by local OB/GYN practice.

  • By Louis Llovio
  • | 1:15 p.m. June 19, 2023
  • | 2 Free Articles Remaining!
Michael Seton is the president and CEO of Sila Realty Trust.
Michael Seton is the president and CEO of Sila Realty Trust.
Courtesy photo
  • Tampa Bay-Lakeland
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Tampa-based Sila Realty Trust has picked up a West Palm Beach medical office building.

The 25,150-square-foot two story building is fully leased by OB/GYN Specialists of the Palm Beaches, which specializes in high-risk pregnancies and births.

Sila paid $9.85 million.

According to a statement announcing the deal, the practice has seven location across West Palm, Boca Raton and Delray Beach. It is part of Unified Women’s Healthcare which has 925 centers and 36 fertility clinics in the U.S.

Sila did not disclose the property’s address, but according to the health care provider’s website, it’s West Palm Beach office is located at 770 Northpoint Parkway. Property records have not been updated to record the purchase.

Michael Seton, Sila’s president and CEO, says in the statement that the facility is in the heart of an “established and thriving” medical district.

The Tampa REIT invests in health care properties. It is based in Water Street Tampa and as of March owns 131 health care properties and two undeveloped land parcels in 58 U.S. markets.

This most recent purchase follows a buying spree last spring and summer that included the $51.2 million purchase of Tampa General Hospital’s rehabilitation hospital building on Kennedy Boulevard.

Around that time, Sila also picked up the Escondido Inpatient Rehabilitation facility in Escondido, California for $63.4 million, a three-building medical office complex in Washington for $8.5 million and medical office building outside of Pittsburgh for $14 million.



Louis Llovio

Louis Llovio is the commercial real estate editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.

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