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Washington DC & Mid-Atlantic  + Healthcare  | 

Central Florida Senior Housing Portfolio Acquired for $110M

American Healthcare Investors and Griffin Capital Company, LLC, the co-sponsors of Griffin-American Healthcare REIT IV, Inc., completed the acquisition of a nine-property Central Florida senior housing portfolio from New Senior Investment Group for roughly $110 million. The 1,140-unit portfolio totals approximately 814,000 square feet of assisted living, independent living and memory care space, and has an aggregate occupancy rate of roughly 84%.

The deal closed at a capitalization rate of 7.03%, and involves a joint venture with an affiliate of Washington, DC-based Meridian Senior Living, LLC, which will manage the portfolio. Griffin-American Healthcare REIT IV owns approximately 98% of the joint venture and acts as its managing member.

Greystone Real Estate Advisors’ Cody Tremper represented the seller.

Properties include:

  • Bradenton Oaks in Bradenton
  • The Grande and Spring Oaks in Brooksville
  • Lake Morton Plaza in Lakeland
  • Balmoral Assisted Living in Lake Placid
  • Bayside Terrace in Pinellas Park
  • Renaissance Retirement in Sanford
  • Forest Oaks in Spring Hill
  • Spring Haven Retirement in Winter Haven

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition