Hillview Group has announced the sale of a Florida skilled nursing facility. After previously acquiring The Signature Healthcare Center of Waterford in 2019 from The Arba Group for a purchase price of $29.31 million, or $137,000 per bed, Hillview has now sold the asset for $43.16 million, or $200,900 per bed. Built in 1986, the skilled nursing facility comprises 214 beds and 65,000 square feet on two acres in Hialeah Gardens, Florida (Miami MSA).
The buyers of the skilled nursing facility are Waterford Propco LLC, Waterford TIC 1 DM Member LLC and five other entities with similar names. Andrew Bronfield of Miami-based Venture Services, Bent Philipson of New York-based Philosophy Care Center and Naomi Tessler, Waterford were affiliated with the buyers. They also assumed the seller’s $19.53 million mortgage, which was taken over by VNB New York.
