LAKE CITY, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Canopy at Harper Lake in Lake City, a small city of approximately 12,000 residents between Jacksonville and Tallahassee.
The community features 44 assisted living units and 20 memory care units. Built in 2019 the community sits on approximately 5.7 acres. The asset was stabilized with all private-pay residents at the time of sale.
The seller was a Florida-based developer and investment group. The buyer is a 1031 fund targeting newer assets with strong in-place cash flow. The price was not disclosed.
Bradley Clousing and Daniel Geraghty led the transaction for SLIB.
“The Canopy at Harper Lake stands as the rare, stabilized asset in this market with high occupancy and strong margins,” says Clousing. “This acquisition offers the buyer a prime opportunity to capitalize on an already thriving community in Lake City, making a noteworthy addition to their portfolio.”