SLIB Brokers $71M Sale of Five-Property Portfolio in Florida

Superior Residences of Niceville Superior Residences of Niceville

CHICAGO — Senior Living Investment Brokerage, a Chicago-based brokerage firm, has arranged the sale of five assisted living and memory care communities in Florida for $71 million.

A Texas-based nonprofit organization acquired the properties from a Florida-based partnership. The seller’s affiliated entity, Superior Residences, will continue to operate the assets following the sale.

The properties include:

  • Superior Residences of Brandon in Brandon, constructed in 1999 and featuring 46 units. 
  • Superior Residences of Clermont in Clermont, constructed in 2002 and 2013 and featuring 114 units. 
  • Superior Residences of Lecanto in Lecanto, constructed in 2011 and featuring 60 units. 
  • Superior Residences of Niceville in Niceville, the only asset located in the Florida panhandle, constructed in 2009 and featuring 60 units. 
  • Superior Residences at Cala Hills in Ocala, constructed in 1999 and featuring 60 units.

Piper Jaffray & Co. helped finance the acquisition through the issuance of tax-exempt bonds. The price represents $208,824 per unit and a capitalization rate of 6.7 percent.

The portfolio an average occupancy of 85 percent at the time of sale. Bradley Clousing, Jeff Binder and Toby Siefert of Senior Living Investment Brokerage handled the transaction.

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