SOLD – 178 Unit Independent & Assisted Living Community
— Current rates at the community at the time of sale averaged $2,280 for IL and $3,432 for AL.
— The community averaged 78% occupancy leading up to the sale.
— The new owner plans to inject a large amount of capital in order update the asset, press rates, and occupancy.
— Our team put together an in depth offering memorandum featuring in depth location and community details, thorough analysis of current operations, and detailed sales comparables.
— Took offering to targeted institutional buyer looking to expand presence in Florida.
— Orchestrated and oversaw due diligence process to ensure a smooth transaction on both sides.
— The transaction occurred between a large institutional buyer and mom and pop seller who have asked not to be identified.
— Community sold for $25.5 million with the buyer planning to inject more capital to improve the community.