Philosophy Care Centers’ Bent Philipson with 8333 West Okeechobee Highway (Getty, Google Maps, Bent Philipson)
A pair of nursing house buyers scooped up a Hialeah Gardens facility for $43.2 million.
Bent Philipson and Andrew Bronfeld purchased Signature Healthcare Centre of Waterford at 8333 West Okeechobee Street from an affiliate of Los Angeles-primarily based Arba Group, data show.
The deal for the 214-unit facility breaks down to about $202,000 for each unit.
Philipson has invested in South Florida amenities in the earlier. He is the founder of Extensive Island-primarily based Philosophy Care Centers, a expert nursing households consultant servicing New York and New Jersey, according to LinkedIn accounts for Philipson and Philosophy Care. Bronfeld’s LinkedIn lists him as the Miami-primarily based regional director for elder treatment company Ventura Services.
Bronfeld, as a result of an affiliate, bought a 20 percent stake in the Hialeah Gardens facility. Philipson made use of 5 entities to invest in the assets, with each individual of his affiliate marketers shopping for from a 2 % to 39 per cent stake in the nursing house, records show. A seventh entity that obtained a .2 p.c stake is led by Naomi Tessler of Brooklyn.
The buyers assumed a $19.5 million house loan on the property from the vendor and bumped up the amount to $59.8 million. The financing was reassigned to VNB New York.
The three-tale building was completed in 1986 on an nearly 2-acre web-site overlooking a lake, according to assets information.
Arba Team, led by Ira Smedra and Jacob Wintner, experienced paid $29.3 million for the facility in 2019, meaning it flipped it for a 47 p.c acquire in three decades.
South Florida, as perfectly as the rest of the condition, have traditionally been retirement meccas, with nursing houses a coveted expenditure.
Philipson has been betting heavily on the asset class.
Late final year, he bought a stake in Claridge Property at 13900 Northeast 3rd Court docket in the vicinity of North Miami, and Regents Park at Aventura at 18905 Northeast 25th Avenue. Philipson bought the qualities for a put together $33.4 million, in partnership with Englewood Cliffs, N.J.-based mostly CareRite Centers.
In 2020, Philipson compensated $24 million for North Dade Nursing And Rehab Center at 1207 and 1235 Northeast 135th Avenue in North Miami. That topped off his two-yr splurge on six nursing residences for a merged $100 million.
Included in that spree was his $19.8 million buy of South Dade Nursing and Rehabilitation Middle at 17475 South Dixie Highway in Palmetto Bay, and Golden Glades Nursing and Rehabilitation Heart at 220 Sierra Push in Miami.
For its aspect, CareRite also beefed up its portfolio very last 12 months, spending $35 million for Coral Reef Subacute Care Center at 9869 Southwest 152nd Avenue in an unincorporated space of south Miami-Dade County.
