FORT LAUDERDALE, FL—In what some are calling a seller's market for seniors housing, two assisted living facilities in Pompano Beach, FL have traded hands. A two-facility portfolio consisting of Lighthouse Inn North and Lighthouse Inn South sold for $4.1 million.

Kenneth Carriero and Damien Carriero, director and associate vice president of Colliers' National Seniors Housing Group, brokered the deal. Lighthouse Inn North is a 10,346-square-foot facility with 42 beds. Lighthouse Inn South is a 10,861-square-foot facility with 33 beds.

“The seniors housing market is a sellers' market right now,” says Kenneth Carriero. “Buyers are extremely aggressive in today's market with the limited number of viable seniors housing assets available for acquisition. Even class C properties have buyers paying above market price.”

Lighthouse Inn North and Lighthouse Inn South were acquired by a single buyer. The buyer decided to create separate entities to own each of the facilities.

The legal names of the purchasers are Lighthouse Realty Management North and Lighthouse Realty Management South. Smith Health Care Properties sold the two seniors housing facilities.

“Although the buyer owns facilities in the northeastern states, this is its entry into Florida,” says Kenneth Carriero. “These two assisted living facilities offered the buyer a great opportunity in a new market with the ability to expand.”

Lighthouse Inn North is located at 3208 Northeast 11th Street. Lighthouse Inn South is located at 3305 Southeast 5th Street.