A spouse and children business office acquired the Regents Park of Dawn for $26.7 million, marking continued investment hunger for assisted dwelling amenities.
The Portopiccolo Team purchased the one-story, 120-mattress home at 9701-9711 West Oakland Park Boulevard from an affiliate of Health care Realty Trust, according to data and genuine estate databases Vizzda. The customer secured loans for $67.4 million and $15 million from Alexandria, Virginia-centered Oxford Finance. The loans are cross-collateralized with Portopiccolo properties in Jacksonville and Wintertime Park.
Accomplished in 1989, the Dawn assisted living facility spans 128,000 square ft on virtually 9 acres, Vizzda documents present. Regents Park at Sunrise provides rehabilitation programs, experienced nursing, palliative care, put up-acute care and other products and services, in accordance to its website.
The house last traded for $18.2 million in 2007, in accordance to records.
Englewood Cliffs, New Jersey-based mostly Portopiccolo is a household office environment that invests in overall health care and other industries, according to its internet site. It’s led by Simcha Hyman.
Assisted living amenities in South Florida have ongoing to trade at a continuous speed, even with elevated curiosity prices and a standard slowdown of professional genuine estate income. The Sunshine Condition has prolonged been a magnet for retirees, prompting traders to continue on to wager on assisted dwelling services, as effectively as other elder care qualities these kinds of as nursing households.
In November, Aurora Well being Community bought the Aspire at the Sea nursing household at 2401 Northeast Second Street in Pompano Beach, as well as rehabilitation centers Renaissance Health and fitness and Rehabilitation at 5065 Wallis Road and Coral Bay Healthcare and Rehabilitation Center at 2939 South Haverhill Street in West Palm Beach. Aurora Health and fitness dropped $30 million for the a few qualities.
Bent Philipson also has been a frequent trader in South Florida, most recently paying out $22.7 million for the Hillcrest Wellbeing Treatment and Rehabilitation Middle at 4200 Washington Street in Hollywood in September. Philipson was named in a grievance filed by the New York Lawyer Basic in late 2022 alleging he and many others diverted Medicaid and Medicare funds from a nursing house in Oyster Bay, New York. The circumstance is however pending.
Elsewhere in South Florida, Pointe Team Treatment and Allaire Health Expert services bought the Epworth Village Retirement Local community and Susanna Wesley Overall health Centre in Hialeah for $30.9 million in May possibly. The adjacent qualities are at 5300 West 16th Avenue and 5345 West 18th Avenue.
