The Tampa team of Cushman & Wakefield including Allen McMurtry, Paul Carr and David Kliewer represented the seller of a 228-unit CCRC that filed for bankruptcy protection earlier this year. Developed in 2011 with three interconnected buildings that feature 125 independent living, 44 assisted living, 18 memory care and 41 skilled nursing units, the property was previously owned by the not-for-profit Senior Quality Lifestyles Corporation. It was 82% occupied at the time of the sale, and despite the February 8th bankruptcy filing stayed the course, operationally.
The Woodlands, Texas-based not-for-profit Methodist Retirement Communities stepped in as the buyer, paying $20.35 million, or $89,250 per unit, for the community.
