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BUYER: Family Extended Care of Punta Gorda Inc. (principals: Joseph Aniello and Mary Parrett), Hialeah
SELLER: Regents Club
PROPERTY: 22332 Vick St., Port Charlotte
PRICE: $2.5 million
PREVIOUS PRICE: $140,000, July 1984
LAW FIRM ON DEED: Marlowe & Weatherford PA, Winter Park
PLANS, DESCRIPTION: Sarasota-based Family Extended Care Inc. purchased the 98-resident Regents Club assisted living facility for $2.5 million.
The price equated to $25,510 per licensed resident.
Family Extended Care, a nonprofit, rebranded the facility as Vick Street Manor. The two-story facility, which also has a license to provide limited mental health services, was slightly more than 50% occupied at the time of the sale.
David Greenberg of Ian Black Real Estate handled the transaction.
The owners plan to make minor facility improvements, mainly cosmetics and painting, along with changes to the management and operations.
Family Extended Care operates facilities in Sarasota, Winter Haven, Melbourne and Albany, Ga. It also has a facility dedicated to patients with traumatic brain injuries in Tarpon Springs.
The buyer mortgaged the property to United Cerebral Palsy of South Florida Foundation Inc. for $2.85 million.
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