California's CareTrust REIT buys St. Petersburg memory care facility

BUYER: CTR Partnership LP (CareTrust REIT Inc.), San Clemente, Calif.
SELLER: SPALF Holdings LLC
PROPERTY: 3479 54th Ave N. and 3433 55th Ave. N., St Petersburg
PRICE: $8.42 million
PREVIOUS PRICE: $1.15 million, May 2010
LAW FIRM ON DEED: Sherry Meyerhoff Hanson & Crance LLP, Newport Beach, Calif.

PLANS, DESCRIPTION:
CareTrust REIT Inc. purchased the 70-unit/115-bed Bristol Court assisted-living facility in St. Petersburg for $8.4 million.

The price equated to $120,340 per unit or $73,250 per bed.