Leading Senior Housing Brokers Facilitate Multi-Buyer Sale of Eight-Property Florida Portfolio

David Kliewer and Jay Jordan arranged the sale of eight senior living communities located in Florida on behalf of a national REIT. The communities were sold in four separate transactions from December 2022 through August 2023 to separate purchasers. The properties include:

• Bradenton Oaks, a 112-unit assisted living and memory care community located in Bradenton, FL
• Renaissance Retirement Center, a 94-unit assisted living community located in Sanford, FL
• Bayside Terrace, a 145-unit assisted living and memory care community located in Pinellas Park, FL
• Spring Haven, a 297-unit independent living, assisted living, and memory care community located in Winter Haven, FL
• Lake Morton Plaza, a 123-unit independent and assisted Living community located in downtown Lakeland, FL
• The Grande, a 144-unit independent living, assisted living, and memory care community located in Brooksville, FL
• Balmoral, a 125-unit assisted living and memory care community located in Lake Placid, FL
• Forest Oaks, an 80-unit assisted living and memory care community located in Spring Hill, FL

David Kliewer and Jay Jordan led the sale of the communities. The communities were older-vintage assets on a non-stabilized basis.

“The sale of these non-core assets allows the REIT to shed underperforming assets to improve fundamental portfolio operations and simultaneously reallocate capital within their portfolio. The buyers plan significant capital improvements to the properties and will leverage their proven operational experience with these types of value-add acquisitions.”

Jay Jordan, Co-Founder of Continuum Advisors