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Commercial Real Estate
Business Observer Thursday, Mar. 18, 2010 8 years ago

TJM Properties buys Sunset Lake Village

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TJM Properties, a Clearwater-based senior-living real estate firm, purchased the 110-bed Sunset Lake Village north of the intersection of Jacaranda Boulevard and Center Road for $6.2 million.

TJM Properties buys Sunset Lake Village


BUYER: Sunset Lake Village LLC (Terence J. McCarthy as trustee), Clearwater


SELLER: 1121 Jacaranda LLC


PROPERTY: 1121 Jacaranda Blvd., Venice


PRICE: $6.2 million


PREVIOUS PRICE: $7.18 million, May 2005


LAW FIRM ON DEED: Ford & Ford PA, St. Petersburg


PLANS, DESCRIPTION: TJM Properties, a Clearwater-based senior-living real estate firm, purchased the 110-bed Sunset Lake Village north of the intersection of Jacaranda Boulevard and Center Road for $6.2 million.


The purchase price equated to $56,364 per licensed bed. Sunset Lake Village is nearly identical to Village Place in Port Charlotte, which TJM Properties also acquired from Greystone Healthcare Management Corp. The community has 70 employees.


“Our goal is to do a good job to maintain them and their great reputation,” says Dale Schooley, acquisitions manager for TJM Properties. “Greystone is more of a skilled nursing operation rather than assisted living. We only have one skilled nursing facility. It was a great sale for them, and a good buy for us.”


TJM Properties owns and operates assisted living facilities in Clearwater, Brooksville, Springhill, Lakeland, Sanford, Bradenton, Venice, Port Charlotte, Winter Haven and Lake Alfred.


Founded in 1979, TJM Properties manages more than 1485 independent, assisted living, memory care, and skilled nursing units. The purchase entity Sunset Lake Village LLC mortgaged the property to USAmeriBank for $9.3 million.

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