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Covenant Real Estate Group Head of Real Estate Chris Aguon said March 14 that PDS Health will lease the two properties the Nevada-based company bought in Jacksonville.
And there may be more.
“Covenant is buying them as investments and it does plan to buy more in Jacksonville, as well as in many other parts of the U.S.,” Aguon said in an email responding to questions about Covenant’s strategy.
“Typically, Covenant holds the properties long-term,” Aguon said.
Covenant bought a closed fast-food restaurant along Southside Boulevard and a closed bank branch in East Arlington.
In Southside, Jacksonville-based Sidlyd SSA Investors LLC of Jacksonville sold the 3,604-square-foot closed Arby’s restaurant on 0.75 acre at 3316 Southside Blvd. for $3.075 million to Jacksonville-Southside Covenant Group LLC of Henderson, Nevada, on Feb. 28. The building was developed in 2004 for Arby’s.
Sunwest Bank of Irvine, California, issued a $2 million mortgage.
In East Arlington, Jacksonville Covenant Group LLC paid $1.525 million Nov. 20, 2024, for the closed Bank of America branch at 2709 Monument Road in East Arlington.
The 3,804-square-foot building with a five-teller-lane drive-thru was built in 1987 on 0.61 acre in the Cobblestone Crossing shopping center at northwest Monument and McCormick roads.
SouthState Bank of St. Augustine issued a $1.4 million mortgage on the property to the LLC.
Jacksonville Covenant Group LLC and Jacksonville-Southside Covenant Group LLC comprise Nevada RE Manager LLC of Henderson, Nevada, as the manager, Stephen E. Thorne IV as a member and Aguon as the authorized person appointed by the LLC to execute and file records with the Florida Division of Corporations.
Manager Nevada RE Manager LLC is led by the Thorne Living Trust.
The LLCs’ address is listed with the state as 3521 Volunteer Blvd. in Henderson, Nevada, which is the building where PDS Health is located.
Thorne is the founder of Pacific Dental Services, which announced in April 2024 that it was transforming into PDS Health. Thorne is its CEO.
He also is the founder, president and CEO of Covenant Real Estate Group, according to covenantrealestategroup.com.
As of April 2024, PDS Health said it supported more than 4,600 clinicians in nearly 1,000 practices across 24 states.
It has 79 locations in Florida, the closest being Port Orange Modern Dentistry. The locations primarily are in Central Florida.
About PDS Health
On April 23, 2024, PDS Health announced that Pacific Dental Services, a U.S. provider of dental and medical support services, transformed into PDS Health, “signifying its evolution into a comprehensive healthcare support organization.”
“This change reflects the company’s growth from its origins in dental support to becoming a leader in healthcare innovation, aiming to revolutionize patient care through the integration of dental and medical services,” said the announcement on PacificDentalServices.com.
PDS Health also unveiled its new headquarters at 3521 Volunteer Boulevard in Henderson.
The 36,000-square-foot building includes executive office spaces, meeting rooms and expansion areas for future initiatives.
It said the building also will house the Thorne Center for Excellence leadership academy to help build the next generation of clinical and nonclinical leaders for the company.
PDS Health said it continued to operate support centers in Henderson; Dallas; and Irvine, California, with plans for an additional support center in Miami.
It said 2024 was the 30th anniversary of the organization’s founding.
It said PDS had long pioneered the inclusion of dental specialty areas such as oral surgery, endodontics, periodontics, pediatric dentistry, and orthodontics into general dentistry practices, and had recently expanded into primary medical care.
“When we founded Pacific Dental Services 30 years ago, our goal was to become the greatest dental company in America. Along the way, we’ve not only become a leader in the field but have continued to elevate the standard,” said Thorne, PDS Health founder and CEO.
“Today marks the next step in our journey as we extend our commitment beyond dental care. By continuing to build strong partnerships with clinicians and aligned organizations, and deepening collaboration between dental and medical professionals, we can ultimately bring about needed change in health care and meaningfully improve patient health. We recognize for dental-medical integration to maximize its impact on patient health, there is much work to be done; we seek to be a leader at the forefront of these initiatives and be a key player in leading the change.”
The announcement said PDS Health supported more than 4,600 clinicians in nearly 1,000 practices across 24 states.
“With more than 15,000 team members nationwide, the organization is poised for substantial growth,” it said.
The website is pdshealth.com.
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