JENSEN BEACH, Fla. — Grandbridge Real Estate Capital’s Tampa-based Senior Housing Investment Sales team has arranged the sale of The Cabana at Jensen Dunes.
The 126-unit assisted living and memory care community is located in Jensen Beach, a coastal community approximately midway between Miami and Orlando. The community opened in August 2016.
Convivial Life acquired the asset, along with an adjacent 11.4-acre development parcel, for $32.5 million. The vacant portion of land is fully entitled for 210 units of independent living. The seller was not disclosed. Ziegler arranged acquisition financing for Convivial.
David Kliewer, Jay Jordan and Allen McMurtry facilitated led the Grandbridge team.
“Convivial Life is the ideal buyer for the Jensen campus, with their ability to complete the original vision of the campus by adding future independent living to complement the existing assisted living and memory care,” says Kliewer. “Convivial was able to leverage the attractive bond environment to access low-cost, fixed-rate financing for the purchase.”