37,358-SF Assisted Living Facility in Lake City, FL Sells for $6.7 Million

WillowBrook Assisted Living, Lake City, FL

LAKE CITY, FL, May 16, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of WillowBrook Assisted Living, a 37,358-square foot assisted living facility located in Lake City, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

Krone Weidler

 The asset commanded a sales price of $6,700,000.

Ms. Krone Weidler, associate vice president investments and seniors housing specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the local seller, a limited liability company. Ms. Weidler also procured and represented the buyer of the property a private investor from Florida.

The WillowBrook Assisted Living facility is located at 1580 South Marion Avenue. This 37,358-square foot building sits on approximately 5.2 acres of land that includes a gazebo and pond.

Built in 2000 with an addition added in 2004 and 2007, WillowBrook is one of the new facilities in north central Florida. The facility caters to a private pay population with most residents needing some assistance.

“WillowBrook is a Class “A” asset with 64 units and 68 assisted living licensed beds,” Ms. Weidler said in a statement. 

“This type asset is in demand and buyers will continue to pay top dollar in the foreseeable future. Florida continues to be a popular destination for retirees and seniors housing continues to be a growth sector for investors” adds Ms. Weidler.

 For a complete copy of the company’s news release, please contact:

Richard D. Matricaria

Regional Manager

Tampa, FL

(813) 387-4700