Ken Carriero and Damien Carriero of Colliers International’s National Seniors Housing Group recently sold an 88-unit assisted living community in Florida for $4.25 million, or $48,300 per unit. The community was built in 1987 and is licensed for 135 beds. In the past, occupancy had been stabilized at just under 90%, but had declined to 46% as a result of the seller’s illness. The cap rate came in at 7.7%, and we are sure that the buyer, New York-based Center Management Group, will be able to ramp up occupancy again.
Opportunity Comes Knocking
