Sunday, August 16, 2015

Marcus & Millichap Handles Sale of 43,722-SF Quillen Manor Seniors Housing Property in Fountain Inn, SC

      
Krone Weidler
FOUNTAIN INN, SC – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Quillen Manor, a 43,722-square foot seniors housing property located in Fountain Inn, SC, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $2,500,000.

Krone Weidler, vice president investments and managing director of the Integrated Healthcare properties, in Marcus & Millichap’s Tampa office, and Allan Holbrook, associate, in the firm’s Jacksonville office both represented the seller, a bank/financial institution.

 The buyer, a limited liability company, was secured and represented by Krone Weidler.  Raj Ravi, broker for South Carolina, assisted in closing this transaction.

Allan Holbrook
Quillen Manor, a 68-unit and 82 bed independent and assisted living community, is located at 709 Quillen Avenue in Fountain Inn, South Carolina. 

The property sits on 8.05 acres, and is located minutes from Greer, 30 minutes from Greenville and about an hour from Clemson, South Carolina.

“This property is a value-add seniors housing opportunity with an in-place upgrade strategy,” says Weilder.

 “Significant upside is possible via the strategic continuation of the upgrade process across the remainder of the asset.” 

Weidler adds, “As the market for stabilized seniors housing assets tighten and construction costs for new assets continue to rise, many seniors housing investors look more closely at value-add opportunities like this.”

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

Richard D. Matricaria
Vice President/Regional Manager
 Tampa, FL

(813) 387-4700

No comments: