Marcus & Millichap Arranges the Sale of a 8,586-Square Foot Seniors Housing Property
FORT WHITE, FL, March 28, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Riverwood Lodge Assisted Living Facility, a 8,586-square foot seniors housing property located in Fort White, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,500,000.
L.J. Tsunis, associate, and Krone Weidler, first vice president investments, both in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller and procured the buyer. According to L.J. Tsunis,
“The buyer demand for new construction of seniors housing product remains strong. The developer was able to successfully exit the property while still in lease-up phase. As Florida’s reputation continues to grow as the bellwether state for seniors, we expect investment to remain strong in all seniors housing assets,” said Tsunis.
Riverwood Lodge Assisted Living Facility, a newly constructed assisted living facility, is located at 6873 Southwest U.S. Highway 27 in Fort White, Florida. The 8,586-square foot property consists of 20 guest rooms and assorted common areas situated on four contiguous parcels totaling approximately 2.59 acres. Additionally, the facility was most recently certified by the State of Florida for a maximum occupancy of 36 beds.
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About Marcus & Millichap (NYSE: MMI)
With over 1,600 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com