Colliers International Announces Florida Portfolio Deal
Damien and Ken Carriero of Colliers International kicked off their 2021 campaign with the sale of three assisted living communities totaling 180 units and 313 beds in Florida. Previously owned by Florida Seniors Properties, Inc., these communities are located in Port Richey, Casselberry and Zephyrhills, with an average occupancy of just 66%. Best Care Senior Living, LLC purchased the Port Richey property, while another ownership entity bought the other two communities. Colliers simultaneously closed the transactions on January 12. The combined purchase price was $13.7 million, or $76,100 per unit. Read More »
Colliers International Ushers Allina Health Out of Seniors Housing Industry
Allina Health exited the seniors housing market with the sale of its 45-unit independent living community in Cambridge, Minnesota, working with Brian Bruggeman and Louis Suarez of Colliers International to get the deal done. Built in 1988, the two-story community features both one-bedroom and two-bedroom unit options on its 4.35-acre campus adjacent to Cambridge Medical Center. There is a dining room, full kitchen, laundry room, beauty salon, lounge with fireplace, a library and an outdoor, three-season porch. Historically, occupancy was between 90% and 95%, which stayed consistent through 2020. Not-for-profit Presbyterian Homes & Services (PHS) acquired... Read More »
Colliers International Handles Two Transactions
Colliers International has been busy this week, closing the sale of a Section 8 senior apartment community in New Jersey and also a trio of HUD mortgages for three market-rate senior co-ops in the Midwest. First, to the sale. Colliers represented Squiretown Properties LLC in its disposition of a 405-unit community in this Newark suburb of East Orange. Built in 1980, but with no major renovations since then, the community’s affordability status was set to expire in 10 years. However, a partnership between Community Preservation Partners and L+M Development Partners has extended that to 30-years with their acquisition of the community. The purchase price totaled $94 million, or $232,100 per... Read More »
Colliers International Announces Two Closings
Colliers International closed a couple of sales involving assisted living communities that also cared for adults with mental disorders or developmental disabilities. First, the Tampa, Florida team led by Ken and Damien Carriero worked on behalf of Loving Care of St. Petersburg, Inc. to sell a 60-unit/120-bed AL community in St. Petersburg, Florida. It came with a Limited Mental Health Specialty License and was 80% occupied at the time of the sale. Best Care Senior Living at St. Pete, LLC was revealed as the buyer, but no purchase price was disclosed. Then, Elena Bakina of Colliers International represented the seller of a similar community in southwest Houston, Texas. Classified as a Type... Read More »Schedule a demo
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