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LONGWOOD, Fla. — Madison Realty Equities LLC, a private real estate firm based in California, has purchased Cornerstone at Longwood, an 80-unit assisted living and memory care facility in the Orlando suburb of Longwood, for $9.4 million.
Kenneth Carriero, national director, and Damien Carriero, vice president of Colliers International National Seniors Housing Group, arranged the transaction on behalf of the seller, Pacor Inc.
Cornerstone at Longwood is a 32,968-square-foot facility with 112 beds, representing a final price of $117,500 per unit or $83,928 per bed.
In 2008, Kenneth Carriero brokered the sale to Pacor, which then repositioned the property through renovations to the memory care wing and the assisted living units.