Bradley Clousing and Dan Geraghty of Senior Living Investment Brokerage facilitated the sale of The Canopy at Harper Lake, an assisted living/memory care community in Lake City, Florida. Built in 2019, the community comprises 72 beds across 44 assisted living and 20 memory care units on just under six acres. It was stabilized with all private pay residents, high occupancy and strong margins.
The seller was a Florida-based developer and investment group. There was a national, yet confidential market with multiple offers from regional and national buyers. The prevailing buyer was a 1031 fund targeting newer assets with strong in-place cash flow. This deal combined with SLIB’s recent sale of Gold Choice Palm Coast totals more than $20 million.
