Colliers Arranges Sale of Three-Property Portfolio in Florida for $20.5M

CrownPointe of Spring Hill CrownPointe of Spring Hill

SEBRING, SPRING HILL and TAMPA, Fla. — The National Seniors Housing Group of Colliers International has arranged the acquisition of three seniors housing communities in Florida for $20.5 million.

Damien Carriero and Ken Carriero represented the buyer, nonprofit owner-operator Family Extended Care, in two separate transactions to acquire the portfolio. The properties include CrownPointe of Sebring in Sebring for $6.4 million, CrownPointe of Spring Hill in Spring Hill for $5.6 million and Central Tampa Assisted Living in Tampa for $8.5 million.

The seller of the two CrownPointe properties, both completed in 1999, was Americare Communities, which has now exited the Florida market to focus on the Midwest. The Sebring location features 85 skilled nursing beds in 45,905 square feet. It was 76 percent occupied and sold at a capitalization rate of 7.25 percent. The Spring Hill location features 58 skilled nursing beds in 32,354 square feet. It was 65 percent occupied and sold at a 7.4 percent capitalization rate.

Liberty Assisted Living sold the Tampa property, which was built in 1967 and renovated in 2005. The community is a standalone memory care facility featuring 100 beds in 32,300 square feet. The facility was 89 percent occupied at closing and sold at an 11.4 percent capitalization rate.

More News