Marcus & Millichap Facilitates Sale of Two-Property Assisted Living Portfolio in Florida for $8.5 Million

  

VENICE, FL and NEW PORT RICHEY, FL, June 15, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a two-property assisted living portfolio in Florida, totaling 82,112 square feet, with 190 licensed beds and 148 units. 

 Summerville of Venice (top left photo), located at 200 N. Nassau Street in Venice Fla. is a 42,714-square foot facility with 90 licensed beds and 78 units.  

Summerville of New Port Richey (bottom right photo), located at 5539 Charles Street, New Port Richey, is a 39,398-square foot facility with 100 licensed beds and 70 units, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office. The portfolio sold for $8,505,000.

Krone Weidler, Senior Associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, Emeritus Corporation (NYSE:  ESC) located in Seattle, Washington. 

The buyer, Nelson Brothers Professional Real Estate LLC located in Aliso Viejo, California, was secured and represented by Ms. Weidler. 

 Summerville of Venice is a historic landmark that was built in 1926 and upgraded in 1984.  Summerville of New Port Richey was built in 1967 and caters to a memory care population.

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