Not-For-Profit Buys Privately Owned Florida Community

Private to not-for-profit transitions certainly constitute the minority of senior care transactions, but it was nevertheless the case for a 190-unit independent/assisted living community that sold in Deland, Florida. Mike Pardoll of Marcus & Millichap represented the previous private owner/operator (who also developed the property), and sold the community to a 501-C3 for $19 million,

Aron Will Closes Two More Financings

Heading into the Thanksgiving holiday, Aron Will of CBRE certainly had a bountiful month, closing nearly $80 million in two transactions. First, working on behalf of joint venture partners Harrison Street Real Estate Capital and The Springs Living®, Mr. Will arranged a $66.4 million construction loan to fund the construction of a 216-unit senior living […]

Mike Pardoll’s Southeast Swing

Marcus & Millichap’s Mike Pardoll crisscrossed the Southeast to close two transactions. First, Mr. Pardoll sold a 99-unit independent living community in Durham, North Carolina for $15.8 million, or about $160,000 per unit, with a 6.3% cap rate. Originally built as a hotel in 1985, the building was purchased in 2012 and converted to independent […]

Giannini Closes Savage Senior Living Deal

Ray Giannini of Marcus & Millichap’s Milwaukee, Wisconsin office, along with Associate John Klement, worked on behalf of a local developer to sell a 94-unit senior living community in Savage, Minnesota (Minneapolis MSA). Why sell a community that since opening in 2015 has seen occupancy soar up to 94% and operating margin stabilize at just