Brad Clousing has sold a 78 unit assisted living facility in Hollywood, FL, April 1, 2010. All the units are studios and there is approximately 3,000 square feet of medical office space in the building. The owners were looking to exit the senior housing market and were the owners since it’s original construction in 1999. The Buyer, TJM Properties out of Clearwater, assumed the existing HUD loan but simultaneously executed an A& to reset the rate and leverage. The facility sold for over $100,000/unit at a 7.1% capitalization rate. For additional information on this transaction, please contact Brad Clousing at 630/858-2501.
