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VERO BEACH, Fla. — Colliers has arranged the sale of Green Gables Assisted Living, a 32-bed boutique assisted living facility in Vero Beach, located between Miami and Orlando.
Family Extended Care of Vero Beach acquired the property from E&R VB Ventures for $2.5 million. The buyer owns several seniors housing properties on Florida’s west coast, and was looking to expand in east coast markets.
The 9,758-square-foot community sits on 0.65 acres. It was built in 2000. Colliers calculated the capitalization rate on the transaction at 12.25 percent.
Kenneth Carriero and Damien Carriero of Colliers acted as transaction brokers on the sale.