Following its involvement in the sale of Church Hill Village in Newtown, Connecticut, to National Development and Benchmark Senior Living (plus Harrison Street’s sale of a Long Island portfolio), Newmark handled another transaction featuring another high-end asset. Developed by Bayshore Retirement Living in 2019, The Bayshore on Hilton Head Island comprises 126 independent living and assisted living units in Hilton Head Island, South Carolina. It also expanded in 2023 with 26 additional IL villas.
Occupancy has consistently been strong, and we imagine the operating margin was quite healthy, too. Life Care Services was the in-place operator. The ultimate buyer was not disclosed, but Newmark helped to arrange acquisition financing for them, as well as handling the sale.
