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Capital Health Group buys Sunset Bay facility


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  • | 10:34 p.m. February 25, 2010
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Capital Health Group buys Sunset Bay facility


BUYER: New Port Richey Real Estate LLC (Capital Health Group LLC), Media, Pa.


SELLER: Margaret M. Russell, Trustee of the Margaret M. Russell 1992 Trust


PROPERTY: 7423 Kaui Loop, New Port Richey


PRICE: $5 million


PREVIOUS PRICE: $8 million, April 2005


LAW FIRM ON DEED: Barnett Bolt Kirkwood Long & McBridge, Tampa


PLANS, DESCRIPTION: Pennsylvania-based Capital Health Group LLC purchased the 77-bed Sunset Bay assisted-living community on Kai Loop near Rowan Road south of Trouble Creek Road for $5 million.


The purchase price equated to $64,935 per unit.


Built in 2003, the three-story community features a cafe, clubhouse with hair salon and a large pool and patio area, according to LoopNet.


Capital Health Group, private equity senior-housing company, provides equity for acquisitions of senior housing facilities and portfolios, and joint ventures to purchase senior housing facilities and portfolios, as well as acquisition or joint ventures to acquire distressed or turn-around properties.


The company recently acquired facilities in New England totaling $70 million, as well as a facility in the San Francisco Bay Area for $60 million, according to its Web site.


Officials did not return calls for comment prior to publication.


The purchase entity New Port Richey Real Estate LLC mortgaged the property to ALF Loan Holding LLC for $1.6 million.

 

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