CLEARWATER, Fla. (October 30, 2013) – The Colliers National Seniors Housing Group is pleased to
announce that it has closed the sale of a three-facility portfolio of assisted living facilities in Central
Florida for $13 million.
The facilities, located in Brooksville, Lakeland and Haines City, are all older facilities that went through
major renovations in the mid-1980s. The average occupancy in the three facilities is 80 percent.
Aviv REIT, a national real estate investment trust based in Chicago, purchased the portfolio under
Florida ALF Properties, LLC in a transaction that closed Oct. 4.
Colliers National Seniors Housing Group’s Kenneth Carriero, CCIM, National Director and Senior Vice
President, and Damien Carriero, Director, acted in the capacity of a transaction broker and facilitated
the transaction between the seller, Florida Diversified Business Management and Holding Co., LLC and
Pinnacle Healthcare Services Inc., and the buyer.
“This portfolio was a great fit for the buyer as it increases their presence in the Florida market,” said
Kenneth Carriero. “This purchase also creates economies of scale with other facilities they currently
own in the area.”
The portfolio consisted of:
• Tangerine Cove, a 47,384-square-foot assisted living facility with 89 units, 145 assisted living
beds and 25 memory care beds, located at 307 Howell Ave. in Brooksville, sold for $7 million.
• Tender Loving Care Retirement Residence, a 21,209-square-foot assisted living facility with 41
units and 60 beds at 747 Bon Air St. in Lakeland, sold for $3 million.
• Heart of Florida, a 39,094-square-foot assisted living facility with 64 units and 80 beds at 301 S
10th St. in Haines City, sold for $3 million.
“Baby boomers are aging, causing more of a need for assisted-living facilities,” said Kenneth. “With so
many in this age group getting to the point where they’re looking at some kind of senior housing, there
is a large demand for these facilities and it’s continuing to grow.”
Also, in other recent activity in Florida by the National Seniors Housing Group, Kenneth & Damien
Carriero handled the sale of Henderson House, a 42-bed assisted living facility in Eustis, Fla., in mid-
Kenneth and Damien Carriero are two of the key members in the National Seniors Housing Group, an
arm of Colliers International that focuses on real estate investment brokerage for senior living facilities
nationwide. The Carrieros are based in Colliers International Tampa Bay’s office in Clearwater, yet
work on a national and international platform.
About Colliers International
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