


Buyers See Potential In Wildwood Independent Living Community
Joint venture partners Harrison Street Real Estate Capital, REDICO and American House Senior Living Communities clearly eyed potential at a newly built independent living community in Wildwood, Florida (near The Villages). Built in 2013, the community features 173 units ranging in size from 500 to 1,090 square feet. Based on a 30% operating margin on approximately $5.3 million of in-place revenues, and occupancy of 90% at the time of sale, we have estimated the cap rate to be about 5.2%. Both occupancy and margins could be improved, with a good amount of hard work, of course. Since assuming management, American House has added private duty personal care services through Allegiance... Read More »