UMB Bank Provides $131M for New Medical Center in Fort Lauderdale

Broward Health nabbed a $130.8 million construction loan to fund its first new build in a quarter century: a medical office in Downtown Fort Lauderdale, property records show. 

The Centurion Foundation — an Atlanta-based nonprofit that arranges debt to support other nonprofits — has a lease with Broward Health and obtained the leasehold mortgage through a tax-exempt bond from UMB Bank. 

The financing, scheduled to mature in 2057, backs a 1.8-acre site, owned by the public health system, at 1611 South Andrews Avenue, just west of the full-service Broward Health Medical Center hospital. 

The new development will include an eight-story building and a seven-story, 300,000-square-foot parking garage with 700 spots. The 188,000-square-foot office will include as many as 237 rooms for cardiovascular, pulmonology, primary care, gastroenterology, neuroscience, and women’s services.

The project, designed by The Beck Group and DMZ Architects, is expected to be completed next year.

Broward Health operates four hospitals across Broward County. The health system also plans to build another medical office in Deerfield Beach. The six-story, 114,000-square-foot building will house as many 123 rooms.

Representatives for Centurion Foundation and Broward Health did not immediately respond to requests for comment.

Julia Echikson can be reached at jechikson@commercialobserver.com.