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.