Baptist Health has acquired Southbank Medical Pavilion, a 493,012 SF medical outpatient tower at 841 Prudential Drive in downtown Jacksonville, for $65 million. Transwestern’s Healthcare Capital Markets team represented seller ShareMD on the 22-story property, which is currently 94% leased.
Baptist Health has acquired Southbank Medical Pavilion in downtown Jacksonville for $65 million, taking ownership of a medical outpatient tower positioned in one of the Southeast’s larger concentrations of health system facilities. Transwestern’s Healthcare Capital Markets team represented seller ShareMD in the disposition.
Steve Leathers, Senior Managing Director at Transwestern, characterized the asset as unusual for its scale, its location and its standing within that healthcare hub. He said interest arrived from a mix of investor and healthcare groups, which produced a competitive process and an outcome he described as successful for the client, and he credited ShareMD with placing its trust in the team to execute the assignment.
ShareMD President and Managing Director Mario Gonzalez said his firm needed a capital markets team that understood health system transactions from the inside while still reaching a broader audience of buyers. Institutional healthcare knowledge on the Transwestern side guided the seller toward its best outcome, according to Gonzalez, who added that the process stayed respectful of ShareMD’s long-standing relationship with Baptist Health throughout.
Marketing was led by Leathers alongside Bill Boyd, Seth Gilford, Jake Jordan, Angela Heidman and Max Hastings. Offers came from three distinct pools of capital, including healthcare-focused investors, Jacksonville office investors and healthcare providers. That group at Transwestern concentrates on healthcare and medical property investment sales, debt placement and advisory services on a national basis.
Transwestern announced the closing on August 18, 2026.
Southbank Medical Pavilion contains 493,012 SF across 22 stories at 841 Prudential Drive, occupying 7.9 acres along the Southbank of the St. Johns River. Occupancy stands at 94%. Neighboring facilities include the flagship Baptist Health campus immediately adjacent to the site, with Wolfson Children’s Hospital, Baptist MD Anderson Cancer Center and Nemours Children’s Health nearby. A six-story parking garage of 324,212 SF with 1,124 spaces serves the tower, and two development outparcels are included in the property.