Just Closed: 64-Bed Assisted Living Facility in Northwestern Florida
In a strategic move to expand their regional footprint, a local Florida owner/operator has acquired a 42-unit/64-bed assisted living and memory care facility from CareTrust REIT, a leading healthcare real estate investment trust. The purchase price remains confidential.
The 1997-built facility, conveniently located in Northwestern Florida, boasts a strong 87% occupancy rate and is licensed for 64 beds. This acquisition marks a significant opportunity for the new owner to capitalize on the growing demand for senior housing in the region.
The successful sale was facilitated by lead agents Jack Osteen, Shep Roylance, and John Sherman of Sherman & Roylance, who recognized the facility's potential and brought the buyer and seller together.
This transaction highlights the continued strength of the senior housing market, particularly in high-demand locations like Northern Florida. With a focus on personalized care and a commitment to resident well-being, the new operator is well-positioned to continue the facility's legacy of excellence.
Considering your property's exit strategy in 2024? Sherman & Roylance offers complimentary business valuations to owners of senior living communities interested in exploring their options.