Following last week’s acquisition of an independent living community in Oregon, Inspired Healthcare Capital has made another purchase across the country in Delray Beach, Florida. The latest target was Grand Villa of Delray Beach West, a 225-unit community with independent living, assisted living and memory care services. It was built in 1984 and renovated in 2013, so some additional upgrades may be needed.
Operations were strong, with high margins and occupancy hitting 92% at the time of the deal. Newmark represented the seller, Valstone Partners, in the deal, having represented Valstone in two other “Grand Villa” dispositions in Florida in 2022. Inspired Healthcare Capital bought those assets, as well, for a combined $46 million.
