Sina lands $64.8M loan for Palm Beach Gardens hospital

Palm Beach Gardens-based Sina Companies has secured roughly $64.8 million in construction financing to build Health Park at Avenir, a medical campus anchored by Jupiter Medical Center’s second hospital, in one of Palm Beach County’s fastest-growing master-planned communities.

The financing, arranged by Aztec Group, funds a 53,000-square-foot neighborhood hospital with 29 inpatient beds, four operating rooms and 24-hour emergency care, plus a 47,000-square-foot medical office building. Black Diamond Construction is the general contractor, with an opening targeted for early 2028.

Why it matters

Healthcare real estate has been one of the steadier corners of the market, and the deal shows lenders will still write full construction loans for development tied to a committed anchor tenant. Locating a hospital inside the Avenir community — rather than a traditional hospital district — reflects how large South Florida master plans increasingly build in their own medical, retail and civic uses to capture growing residential populations.

The numbers

The roughly $64.8 million loan supports a 53,000-square-foot hospital and a 47,000-square-foot, three-story medical office building at the corner of Northlake Boulevard and Landstar Drive. Two additional 25,000-square-foot office buildings are planned in later phases. The financing was part of more than $368 million in loans that closed for South Florida projects in a single week.

What’s next

Construction runs toward an early-2028 opening for what will be Jupiter Medical Center’s second hospital. “This project reflects our commitment to developing thoughtfully planned medical destinations,” said Malcolm Sina, executive chairman of Sina Companies, as healthcare keeps drawing capital across the region.