TAMPA, FL—WillowBrook Assisted Living, a 37,358-square-foot assisted living facility in Lake City, FL. The sales price was $6.7 million.
Krone Weidler, associate vice president investments and seniors housing specialist in Marcus & Millichap‘s Tampa office, had the exclusive listing to market the property on behalf of the local seller, a limited liability company. Weidler also procured and represented the buyer, a private investor from Florida.
“WillowBrook is a class A asset with 64 units and 68 assisted living licensed beds,” says Weidler. “This type asset is in demand and buyers will continue to pay top dollar in the foreseeable future. Florida continues to be a popular destination for retirees and seniors housing continues to be a growth sector for investors.”
The WillowBrook Assisted Living facility is located at 1580 South Marion Avenue. The healthcare real estate sits on about 5.2 acres of land that includes a gazebo and pond. Built in 2000 with an addition added in 2004 and 2007, WillowBrook is one of the new facilities in north central Florida. The facility caters to a private pay population with most residents needing some assistance.