Cushman & Wakefield Negotiates Sale of 97-Unit Community in Tampa

TAMPA, Fla. — Cushman & Wakefield has arranged the sale of The Watermark at Trinity, an 84,217-square-foot assisted living and memory care community in Tampa.

Although the price was not officially disclosed, the community features 67 assisted living units and 30 memory care units and sold for approximately $300,000 per unit, for a total price of about $29.1 million. The property opened in July 2016 and featured an occupancy of over 95 percent at the time of sale.

Allen McMurtry, Paul Carr and David Kliewer of Cushman & Wakefield represented the seller, the property’s original development team that comprised Walt Chancey of Gulf Coastal Development, Ricky Rookis of Rookis Development and Watermark Retirement Communities. The buyer was not disclosed.

Watermark will continue to operate the community following the sale. Other members of the development team included Chancey Design Partnership and Chancey Interiors.