TJM Properties acquired two assisted living/memory care communities in Bradenton and Venice, Florida, from a private REIT that purchased the assets as part of a large portfolio. These were TJM’s sixth and seventh assets acquired in the past 12 months. The buyer intends to invest in cosmetic updates for both communities.
The Brandenton community was built in 1989 and comprises 74,786 square feet across 7.62 acres. The Venice community was constructed in 1998 with 74,445 square feet on 4.06 acres. Together, the assets total 211 units. Bradley Clousing and Daniel Geraghty of Senior Living Investment Brokerage handled the transaction. No purchase price was disclosed.
