Crescent Heights receives $34M loan for Baptist Health South Florida outpatient center — 5 takeaways

Miami Beach-based Crescent Heights received a $34 million loan to build its Baptist Health South Florida outpatient center in Miami, according to South Florida Business Journal.

Here are five takeaways:

1. PNC Bank provided the loan to Alton Road Development, a Crescent Heights' affiliate.

2. Crescent Heights' outpatient facility will be 122,000 square feet.

3. Baptist Health leased 36,900 square feet for ambulatory surgery, medical offices, physical therapy, diagnostics and urgent care.

4. Additionally, Baptist Health will offer free wellness classes at the facility's community center.

5. Prior to the center's approval in July, Mount Sinai Medical Center outwardly opposed the project's development. Mount Sinai Medical Center is Miami Beach's sole hospital.

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