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PENSACOLA, Fla. — Berkadia has negotiated the sale of Homestead Village Retirement Community, a 176-unit, 180-licensed-bed community in Pensacola.
Tim Cobb and Brooks Minford of Berkadia Seniors Housing & Healthcare completed the transaction on behalf of the seller, an Alabama-based nonprofit. The buyer was New Jersey-based Twin Light Capital.
“The seller owned the asset for many years and decided it was time to refocus their efforts on operations within the state of Alabama,” says Minford.
Built in 1993, Homestead Village Retirement Community offers independent living, assisted living and memory care. Twin Light Capital’s goal in the purchase will be to create value through capital and operational improvements.