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Watermark assisted living facility in Gulf Breeze, FL

Panhandle Assisted Living Facility Attracts 6K Interested Buyers

An assisted living center in Gulf Breeze, FL, drew more than 6,300 buyers with 138 confidentiality agreements signed and 16 full approved bidders before the property was sold at auction, resulting in the property trading within 120 days of the listing at 107% of the reserve price. 

Coldwell Banker Commercial represented the seller of Watermark of Gulf Breeze Assisted Living Facility, which saw a final price of $8.2 million. Michael Mangrum, commercial state director for Coldwell Banker Commercial NRT in Florida, brought the property to market with Coldwell Banker Commercial NRT’s accelerated marketing team led by David Lowry and Roman Tsimberg.

“Watermark of Gulf Breeze has shown strong performance by consistently increasing occupancy to above 80%, making it an exceptional value-add property with opportunistic returns,” said Mangrum.

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Inside The Story

Coldwell Banker Commercial's Mangrum

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.

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