Blackstone Sells Waterfront Assisted Facility In Jupiter For $41M

Mangrove Bay assisted living facility 760x320

Blackstone sold the waterfront Mangrove Bay assisted living facility in Jupiter for $41.2 million, a significant loss in value from its purchase price five years ago.

Chicago-based Ventas, a real estate investment trust, bought the 155-unit property at 110 Mangrove Bay Way from a Blackstone affiliate, according to records.

The 190,348-square-foot facility was constructed in 2002 on 6.5 acres, property records show. New York-based Blackstone had paid $71.9 million for the property in 2017.

Mangrove Bay offers independent, assisted and memory care living, according to its website. The largest unit is 1,400 square feet, with rates starting at $4,375 per month.

Source: The Real Deal

February 16, 2022/by ADMIN

Recent Posts

Miami’s Largest Hospital Could Ink $1 Billion Deal With Related GroupDecember 20, 2024 - 1:37 pm
The deal would generate $1.05 billion in rent over 99 years. RUDG would have two years to secure financing for the first phase, aiming to complete it by February 2030.
Nemours Children’s Health Reveals $300M Expansion For Lake Nona Hospital CampusDecember 17, 2024 - 5:00 pm
The Jacksonville-based health system plans to construct three new buildings as part of this expansion, which will be completed over the next four years.
Zoning May Allow Hospitals To Open In More Miami NeighborhoodsDecember 11, 2024 - 6:23 pm
The proposed ordinance will require a final vote from the county commission before it can be implemented.
Southeast Orthopedic Specialists To Open Clinic In St. AugustineDecember 9, 2024 - 7:21 pm
It is the first phase of its new 37,000-square-foot building that will expand orthopedic and spine services.
UHealth Boca Raton Opens New 17,000-SF Home At 1489 West Palmetto CentralDecember 4, 2024 - 4:55 pm
With this larger space, UHealth physicians are providing enhanced care to patients in the specialties of cardiology, ENT, neurology, urology, pain management, rheumatology, family medicine and the newly added services of dermatology and concierge medicine, among others.
Johns Hopkins All Children’s Hospital Plans $62 Million Expansion In St. PetersburgDecember 2, 2024 - 6:01 pm
The addition is expected to be completed in the summer of 2026.
CareMax Finds Potential $100 Million Buyer For Medical ClinicsNovember 27, 2024 - 11:06 am
On November 19, the bankruptcy court approved $122 million in debtor-in-possession financing for CareMax, which includes $30.5 million in new funding and the conversion of $91.5 million in prepetition loans into super-priority DIP loans.
Miami Jewish Health Plans Major Campus ExpansionNovember 25, 2024 - 2:58 pm
FiftyTwoNorth will operate as a life plan community, where residents pay an upfront fee for living and healthcare costs, plus a monthly maintenance fee. This model offers financial predictability for seniors.
Acadia Healthcare To Build-Out $47.95 Million Hospital In St. AugustineNovember 21, 2024 - 10:57 am
The 144-bed facility is planned on 6 acres at 132 Moonbay Parkway near County Road 210 and Interstate 95.
Florida Medical Office Building Sells For $36.79MNovember 19, 2024 - 2:54 pm
The facility’s largest tenant is a Baptist Health South Florida outpatient surgery center.
Onicx Group Acquires Tampa-Area MOBNovember 14, 2024 - 10:51 am
This firm purchased the property through a real estate fund launched in August.
Bartow Regional Medical Center Groundbreaking Signals Beginning Of ExpansionNovember 12, 2024 - 8:12 pm
Construction is scheduled to begin next week and is expected to take a few years.
AW Property Scoops Up Pair Of Jupiter MOBsNovember 10, 2024 - 6:14 pm
Healthcare Realty Trust unloaded both assets.
Deerfield Beach Lands $41M Emergency Services CenterNovember 4, 2024 - 9:41 am
The new 25,000-square foot facility is hoped to reduce wait times and improve health outcomes by delivering immediate emergency services.
Site Work Underway For Lee Health’s New $434M Hospital In Fort MyersOctober 30, 2024 - 9:55 am
A key component is a musculoskeletal institute connected to the hospital on Challenger Boulevard that could become a destination center attracting patients from outside the region.
Legacy Arranges Sale Of Medical Retail Center In Winter HavenOctober 28, 2024 - 1:43 pm
The 36,637-square-foot property sold for $10.3 million.
NIcklaus Children’s Hospital Opens Griffin Surgical Tower In MiamiOctober 24, 2024 - 7:35 pm
The state-of-the-art facility spans 131,000 square feet.
Baptist Medical Center Applies For Permit To Build MOB In Seven PinesOctober 16, 2024 - 1:22 pm
The city issued a site-clearing permit Oct. 2 for the 10.52-acre property at southeast Butler and I-295.

You might also like