Medical and Professional Center Sells, To Go Condo

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The Pompano Beach Medical and Professional Center has sold for $3.8 million and will convert to condos, a brokerage that took part in the sale said.

The Prakas Group said Astra Fund an offshore investment company, bought the 25,380¬square-foot center at 50 N.E. 26th Ave., in Pompano Beach, Boca Raton-based Prakas Group said it represented the seller, – Kaia Properties.

Athan “Tom” Prakas, president/broker at the Prakas Group, said Astra Fund bought the multi-tenant building as an investment and has plans to convert it to office condominiums.

“This is a real growth area and the sales should be brisk,” Prakas said. “This was a win-win situation for the buyerand seller.”

South Florida The Business Journal // January 26, 2006

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Medical and Professional Center Sells, To Go Condo