Allegro Pays $74M for Tampa Senior Housing
Allegro Senior Living struck a deal with Bayshore Retirement Living to acquire the 136-unit Bay at Hyde Park in Tampa, FL. The St. Louis buyer paid $74 million to the Tampa-headquartered seller for the five-year-old property at 800 W. Azeele St in Tampa.
HFF’s Ryan Maconachy, Chad Lavender, Dave Fasano and Zach Nolan led the team representing Bayshore Retirement. Sarah Anderson, also with HFF, led the team’s debt placement efforts to the tune of $48.5 million in acquisition financing.
Bay at Hyde Park is situated on close to two acres in the Hyde Park submarket. The asset has one and two-bedroom independent and assisted living units, averaging 714 square feet. The property is close to Tampa General Hospital, Memorial Hospital of Tampa and additional retail and cultural attractions.
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