Allen McMurtry, David Kliewer and Paul Carr of Cushman & Wakefield sold a 78-bed stand-alone memory care community on Florida’s east coast for $19.5 million, or $250,000 per bed. The community originally opened with 66 MC beds in 2015 and then recently added 12 more beds to bring the total to 78 beds. Occupancy is over 95% and there is additional land to add assisted or independent living.
Who says stand-alone memory care does not work? This one clearly does. The buyer was a Florida-based private equity investor.
