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| Krone Weidler |
LAKE CITY, FL – Marcus & Millichap (NYSE: MMI), a
leading commercial real estate investment services firm with offices throughout
the United States and Canada, announced the sale of WillowBrook Assisted
Living, a 37,358-square foot seniors housing property located in Lake City,
Florida, according to Richard D. Matricaria, regional manager of the firm’s
Tampa office. The asset sold for $7,400,000.
Krone Weidler, associate vice president investments
and L.J. Tsunis, associate in Marcus & Millichap’s Tampa office,
represented both parties in this transaction.
WillowBrook Assisted Living is located at 1580 South Marion
Avenue in Lake City, Florida. The
37,358-square foot building is situated on approximately 5.2 acres of
landscaped land that includes a gazebo and a pond. Built in 2000, with an addition added in 2004 and 2007,
WillowBrook is one of the newer assisted living facilities in north central
Florida.
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| L.J. Tsuni |
“We received multiple offers from our buyer base around the
country and in the end, an LLC out of Ohio purchased the asset,” says Ms.
Weidler. “This is a great example of
the interest buyers have in a high quality seniors housing product.”
“Class A products in Class A locations with a private pay
resident base are in high demand,” adds Ms. Weidler. “Initially, Willowbrook
was sold in April 2013 for $6,700,000 and less than 15 months later, the same
asset sold for $7,400,000.”
For a complete copy of the company’s news release, please
contact:
Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL
(813) 387-4700
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