 |
| 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
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