Grandbridge Real Estate Capital has arranged the sale of three senior housing communities in Florida.
Grandbridge’s Senior Housing Investments Sales team brokered the transaction on behalf of the seller, a national REIT. The properties were purchased in three separate transactions. Two of the buyers are owner-operators with existing communities in the area, and the other is a national buyer based in Florida.
Vice Presidents & Co-leads Jay Jordan and Dave Kliewer led the Grandbridge’s team. Jordan said in prepared remarks that the new owners will add significant capital improvements to the properties. The same team recently completed the sale of a 298-unit senior community in Naples, Fla., for $81 million.
Assisted living, memory care in Tampa, Orlando
Built in 1973 and 1988, Bradenton Oaks comprises 112 assisted living and memory care units. It is located at 1015 Seventh Ave. in Bradenton, Fla., some 45 miles south of Tampa and 25 miles from St. Petersburg, Fla. The property is near Route 41 and Route 301. Manatee Memorial Hospital is 0.9 miles away.
Bayside Terrace encompasses 154 independent living, memory care and assisted living units with studios and one-bedroom floorplans and is located at 9381 U.S. Highway 19 in Pinellas Park, Fla., within 10 miles of St. Petersburg and 20 miles from downtown Tampa. The community offers laundry, housekeeping, maintenance and transportation services, as well as art classes, religious services and daily activities.
Completed in 1984, Renaissance Retirement Center comprises 94 assisted living apartments. Located at 300 W. Airport Blvd. in Sanford, Fla., the property is close to the intersection of routes 17 and 417, which provide access to central Orlando, roughly 25 miles south. The community features transportation services, chef-prepared meals, personal care services and support.
