Gold Standard of Care bought an assisted living and nursing home facility in West Palm Beach for $14 million, marking the continuing strength of senior healthcare real estate in Florida, The Real Deal reports.
The firm, based in Fort Lauderdale, bought the property from the real estate investment trust National Health Investors, Gold Standard’s Michael Verbitsky said.
The single building has 144 units. The majority of units, or 114, make up the ALF named Colonial Assisted Living of Palm Beach, and the remaining 30 are the nursing home named Colonial Skilled Nursing Facility, according to Verbitsky. The building is roughly 90 percent occupied.
That purchase breaks down to more than $97,000 per unit. Read more.
