NEW PORT RICHEY, Fla., April 10, 2018 – 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 the Summit at New Port Richey Assisted Living & Memory Care Facility, a 50,000-square-foot seniors housing property located in New Port Richey, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $4,299,000.
Krone Weidler, an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Ms. Weidler secured and represented the buyer, a limited liability company.
“The New Port Richey asset was built in 1967 and consists of 70 apartments and 100 licensed beds. The building has been renovated and sits on approximately 1.89 acres” noted Ms. Weidler
The Summit at New Port Richey sits on six acres of beautifully landscaped grounds with a courtyard, lovely gardens and walking trails. This senior living community has a wonderful long-standing relationship with the local community. Located in Florida this community offers a full range of services, allowing residents to age in place as their health needs change. The Summit at New Port Richey is located at 5539 Charles Street, New Port Richey, Florida.
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About Marcus & Millichap (NYSE: MMI)
With over 1,700 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 9,000 transactions in 2016 with a value of approximately $42.3 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