Bradley Clousing, Daniel Geraghty and Patrick Burke of Senior Living Investment Brokerage handled the sale of Promise Pointe at Tampa Oaks. The seller was a local developer, and this was its only seniors housing asset.
Built in 2018, Promise Pointe is an 108-unit assisted living and memory care community in Tampa, Florida. This Class-A property sits on 7.18 acres and was breaking even at the time of the sale, with occupancy around 85%. The community was developed as an EB-5 program but never stabilized.
The buyer is a regional operator that partnered with an institutional capital provider. The joint venture intends to complete a cosmetic update and focus on marketing efforts to stabilize operations.
