Tuesday, March 3, 2009

Marcus & Millichap Sells 6,788-SF Seniors Housing Building for $439,000

PANAMA CITY, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a 34-bed assisted living care building located in Panama City, Florida, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $439,000 for the real estate. The business was sold in a separate stock transaction.

Krone Weidler, (top right photo) a Senior Associate and Seniors Housing Investment Specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.


Robinson Residential Care (bottom left photo) is located at 11921 Caruso Drive in Panama City.

This assisted living facility is licensed as a limited mental health community and typically runs 95 percent occupancy as reported by the sellers, according to Ms. Weidler. Robinson Residential Care was built in 1981.


Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700

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