November 8, 2017 Comments Off on Central Florida Senior Housing Portfolio Acquired for $110M Views: 1045 Florida, National News, Southeast, Washington, D.C.

Central Florida Senior Housing Portfolio Acquired for $110M

American Healthcare Investors and Griffin Capital Company, LLC, the co-sponsors of Griffin-American Healthcare REIT IV, Inc., completed the acquisition of a nine-property Central Florida senior housing portfolio from New Senior Investment Group for roughly $110 million. The 1,140-unit portfolio totals approximately 814,000 square feet of assisted living, independent living and memory care space, and has an aggregate occupancy rate of roughly 84%.

The deal closed at a capitalization rate of 7.03%, and involves a joint venture with an affiliate of Washington, DC-based Meridian Senior Living, LLC, which will manage the portfolio. Griffin-American Healthcare REIT IV owns approximately 98% of the joint venture and acts as its managing member.

Greystone Real Estate Advisors’ Cody Tremper represented the seller.

Properties include:

  • Bradenton Oaks in Bradenton
  • The Grande and Spring Oaks in Brooksville
  • Lake Morton Plaza in Lakeland
  • Balmoral Assisted Living in Lake Placid
  • Bayside Terrace in Pinellas Park
  • Renaissance Retirement in Sanford
  • Forest Oaks in Spring Hill
  • Spring Haven Retirement in Winter Haven

Connect With Griffin-American Healthcare REIT IV

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Connect With New Senior Investment Group

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