PORT ORANGE, Fla. — Lancaster Pollard has arranged the $30.5 million sale of CountrySide Lakes, a 146-unit independent living and assisted living community in Port Orange, approximately 55 miles northeast of Orlando.
Shepherd Health, a Miami-based developer and operator, purchased the property from a private ownership group. Fifth Third Bank provided a $24 million acquisition loan for the buyer, arranged by the bank’s Natasha Ursuy.
Built in 1984, CountrySide Lakes offers 26 independent living units and 120 assisted living units in 160,000 square feet. The community currently has a waiting list and has averaged 97 percent occupancy since 2013.
Meridian Capital Group's Ari Adlerstein, Ari Dobkin and Josh Simpson arranged $26.2 million in acquisition financing for Shepherd Health in the transaction.
Chad Elliott and Gerald Swiacki of Lancaster Pollard represented the seller in the deal.