PACE, Fla. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Canopy on Berryhill, a seniors housing community in the Pensacola suburb of Pace.
The community offers assisted living and memory care and consists of 64 units and 80 beds. The property opened in late December 2019.
The first resident move-ins occurred in late December 2019 and early January 2020. Despite the challenges of COVID-19, the property achieved 95 percent occupancy in less than a year.
A partnership led by Florida-based developer Rimrock Cos. sold the asset. The buyer was Arcadia Communities, representing the company’s first acquisition in Florida. The price was not disclosed.
Bradley Clousing and Daniel Geraghty handled the transaction for SLIB.