May 14, 2020 Comments Off on Broward Senior Living Facility Trades for a Discounted $56M Views: 522 Florida News, South Florida

Broward Senior Living Facility Trades for a Discounted $56M

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Parkland FL Senior Housing Propco, an affiliate of Kayne Anderson Real Estate Advisors, has acquired Aston Gardens at Parkland Commons, a 325-unit senior living facility in Parkland. The sales price was $55.7 million.

The seller was a subsidiary of Welltower, which had acquired the property for $78.6 million in 2015. The Toledo, OH-based REIT has recently felt pressure on its national senior living portfolio, as the Covid-19 pandemic has made it difficult to secure new residents. Occupancy rates have recently declined.

Built in 2002, the 349,250-square-foot facility has independent living, assisted living and memory care units.

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