Grandbridge was brought on to sell three older seniors housing communities in Florida that were distressed: The Grande, Balmoral and Forest Oaks. The Grande is a 144-unit community in Brooksville with independent living, assisted living and memory care services, and Balmoral is a 125-unit AL/MC community in Lake Placid. Forest Oaks is an 80-unit AL/MC community in Spring Hill.
The Grande and Balmoral sold in June to TJM Properties, a regional Florida-based owner/operator. In a separate transaction in August, Forest Oaks sold to a Florida-based buyer that was not disclosed. A national REIT sold the communities, and this sale completed its disposition of a portfolio that consisted of eight non-core assets that were sold to four different buyers, with closings ranging from December 2022 to August. Dave Kliewer and Jay Jordan led the Grandbridge team in selling these communities.
