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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

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Connect With Griffin-American Healthcare REIT IVConnect With Meridian Senior LivingConnect With New Senior Investment Group

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition