JACKSONVILLE, Fla. — Senior Living Investment Brokerage has arranged the sale of Park Ridge Nursing & Rehabilitation Center, a 104-bed skilled nursing facility in Jacksonville.
A local partnership looking to reduce its exposure to skilled nursing sold the property to a private group of investors from New York and New Jersey. The price was $8.5 million.
Built in 1965, the 30,030-square-foot community was 94 percent occupied at the time of sale. The price equates to $81,731 per unit and a capitalization rate of 13.7 percent.
Bradley Clousing and Ryan Saul of Senior Living Investment Brokerage handled the transaction.