An assisted living community in northeastern Florida found a new owner with the help of Bradley Clousing and Daniel Geraghty of Senior Living Investment Brokerage. Built in 2004 in the town of Merritt Island, the community has 70 units, with kitchenettes in each apartment. Its publicly traded REIT owner decided to divest the asset to a regional owner/operator based in Florida. The new owner plans to renovate the community and make significant upgrades to improve occupancy, revenues and overall bottom line performance. No purchase price was disclosed.
Publicly Traded REIT Divests AL Community in Florida
