Brad Clousing and Patrick Burke of Senior Living Investment Brokerage represented the Seller of a 53 unit Assisted Living Community in Florida just north of Palm Beach. Originally built as a nursing home, it was converted to an assisted living facility in 2004. It boasts an updated physical plant and expansive enclosed courtyard. The Seller was a North Carolina based partnership and this was their only seniors housing asset in Florida. The Buyer is a South Florida based regional operator that intends to make additional physical plant upgrades, explore providing memory care services and increase rates and subsequent margins. The property sold for $3,900,000 at an 8.8% cap rate. Multiple offers were procured by Senior Living Investment Brokerage for selling the assisted living facility. For additional information, please contact Patrick Burke at burke@slibinc.com or Bradley Clousing at clousing@slibinc.com 630/858-2501
