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GEORGIA FIRM SCOOPS UP SOUTH FLORIDA MEDICAL OFFICE
Acquisition Deepens South Florida Medical and Commercial Real Estate Presence - FORT LAUDERDALE. October 11, 2010 – Scott & Associates, Inc. announced today the acquisition of their newest medical office property, University Medical Arts Building. This property is located on the medical campus of University Hospital at 7431 North University Drive in Tamarac, Florida. This acquisition adds to a strong Florida medical office portfolio that includes properties in St. Petersburg and Boca Raton. “We are very committed to the South Florida medical office market, which is one of the strongest and most dynamic markets in the country. We continue to experience growing demand from tenants seeking well-located, high-quality space” said Hugh Scott III, executive vice president of acquisitions. Partnering with a private equity fund out of New York, Scott & Associates, Inc. was able to quickly close on the property. “The University Medical Arts Building is a solid building that was over leveraged. Once we identified this property within a pool of distressed loans, we jumped. Having the ability to move fast in this environment is the name of the game. Scott & Associates, Inc. has the history and ability to perform” said Tom Kirbo, executive vice president, Healthcare Division of Scott & Associates, Inc. “We want to offer the medical community a well capitalized landlord that is willing to make aggressive but sensible lease deals.”