Berkadia’s Tim Cobb and Brooks Minford have announced the closing of two seniors housing communities in Florida and Virginia. First was the sale of Homestead Village Retirement Community, a 176-unit community in Pensacola, Florida. Built in 1993, the community consists of independent, assisted living and memory care units. Twin Light Capital purchased the property from an Alabama-based not-for-profit, and the company intends to implement capital and operational improvements. The not-for-profit decided to sell the community after deciding to focus its efforts on their communities within Alabama.
The other deal saw Virginia-based Robertson Liebler sell Edgeworth Park at New Town, an 83-unit seniors housing community in Williamsburg, Virginia providing assisted living and memory care services. Built in 2017, the community was sold to Wheelock Street Capital and will transfer its operations to Solera Senior Living. No purchase price was disclosed.
