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Brookdale Senior Living buys Grand Court for $15.95 million


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  • | 12:05 a.m. March 10, 2012
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  • Commercial Real Estate
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BUYER: BLC Fort Myers-GC LLC (principals: John Rijos, Mark Ohlendorf and W.E. Sheriff),

SELLER: Ventas Realty Limited Partnership

PROPERTY: 8351 College Parkway, Fort Myers

PRICE: $15.95 million

LAW FIRM ON DEED: Barack Ferrazzano Kirschbaum & Nagelberg LLP, Chicago

PLANS, DESCRIPTION: Brookdale Senior Living purchased the 183-unit The Grand Court retirement home for $15.95 million.

The price equated to $87,144 per unit.

The independent-living facility features a main multi-story building surrounded by a campus of smaller cottages. Built in 1984, the 467,866-square-foot property sits on a 16.93-acre site.

The property features multiple dining rooms, two libraries, an outdoor heated swimming pool, game room, arts and crafts studio, woodworking shop, wellness clinic and beauty/barber shop.

“We already leased and operated that community,” says Ross Roadman, senior vice president of investor relations for Brookdale Senior Living. “We just bought out the landlord [an affiliate of Chicago-based Ventas Inc.].”

The purchase entity BLC Fort Myers-GC LLC, mortgaged the property to CBRE Multifamily Capital Inc. for $32.9 million.

 

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