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| Horizon Bay at Hyde Park Seniors Housing Communiity, Hyde Park Neighborhood Tampa, FL |
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| Ryan Maconachy |
DALLAS, TX –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the $74 million sale and
secured $48.555 million in financing for Horizon
Bay at Hyde Park, a 136-unit seniors housing community in the historic Hyde
Park neighborhood of Tampa, Florida.
HFF marketed the property
on behalf of Bayshore Retirement Living.
Allegro Senior Living and an undisclosed joint venture partner purchased
the asset free and clear of existing debt.
Additionally, HFF worked on behalf of the new owners to secure a
seven-year, fixed-rate acquisition loan through Protective Life Insurance
Company.
Horizon Bay at Hyde Park
(Horizon Bay) has a blend of one- and two-bedroom independent and assisted
living units averaging 714 square feet each.
Completed in 2011, the property is situated on 1.91 acres at 800 West
Azeele Street in the high-barrier-to-entry submarket of Hyde Park, which is
close to the Westshore Business District and downtown Tampa.
Additionally, Horizon Bay benefits from its
proximity to Tampa General Hospital, Memorial Hospital of Tampa, and multiple
retail and cultural attractions and major thoroughfares, including Interstates
275 and 4, Selmon Expressway and Kennedy Boulevard.
With condo-quality
finishes, the property is 98 percent leased and features a full-service bar and
lounge overlooking Hillsborough Bay, restaurant-style dining room, coffee bar,
fitness center, beauty and barber shop, chapel/theater, café, billiards,
wellness center, heated swimming pool, library, media room and concierge
service.
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| Chad Lavender |
The HFF seniors housing
team representing the seller was led by senior managing directors Ryan Maconachy and Chad Lavender and director Dave
Fasano of HFF’s Dallas office.
Local market assistance
was provided by associate director Zach
Nolan of HFF’s Tampa office.
Associate director Sarah Anderson
led the team’s debt placement efforts for the buyer-borrower.
For a
complete copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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