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| Krone Weidler |
OXFORD, MS and SOUTHAVEN, MS – Marcus & Millichap
(NYSE: MMI), a leading commercial real estate brokerage firm
specializing in investment sales, financing, research and advisory services,
announced the sale of Hermitage Gardens of Oxford and Hermitage Gardens
of Southaven, two seniors housing properties combined at 69,526-square foot and
located in Southaven, MS
and Oxford, MS, according to Chris Travis, regional manager of the firm’s Tampa
office.
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| L.J. Tsunis |
Krone Weidler and L.J. Tsunis, investment specialists in
Marcus & Millichap’s Tampa office, had the exclusive listing to market the
property on behalf of the seller, a REIT.
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| William Davis |
The
buyer, a private equity investment firm, was also secured and represented by the two brokers.. William Davis,
Broker, assisted in closing this transaction.
“Our strategic and targeted marketing efforts brought forth a cash
buyer for this value-add opportunity.
"We negotiated a contract and assisted the buyer in completing due diligence as COVID-19 became more prevalent. We managed to close the transaction timely with minimum interruption” explained Weidler.
Tsunis went on to say, “the buyer is excited to add to their
portfolio in the southeast. They like the value-add component and plan to make
capital improvements of these assets over the next several months.”
Hermitage Gardens of Oxford is located at 1488 Belk Blvd in
Oxford, MS and Hermitage Gardens of Southaven is located at 108 Clarington Dr
in Southaven, MS. The properties are situated on 6.72 combined acres and
include 116-units with 120 licensed beds.
"We negotiated a contract and assisted the buyer in completing due diligence as COVID-19 became more prevalent. We managed to close the transaction timely with minimum interruption” explained Weidler.
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| Hermitage Gardens of Oxford, 1488 Belk Boulevard, Oxford, MS |
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| Hermitage Gardens of Southaven, 108 Clarington Drive, Southaven, MS. |
CONTACT:
Whitney Davis
Whitney.Davis@marcusmillichap.com
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