Senior care continues to attract investment in South Florida, with Emerald Group and Infinite Care purchasing two rehabilitation facilities for a combined $29 million.

The larger of the two deals involved the $18.9 million acquisition of Tamarac Rehabilitation and Health Center (pictured above), a 120-bed facility at 7901 Northwest 88th Avenue in Tamarac. The property, built in 1979, spans 38,200 square feet on 3.8 acres.

The partners also acquired Pinecrest Rehabilitation Center at 13650 Northeast Third Court in North Miami. The 100-bed, 30,400-square-foot facility, built in 1967 on 2.4 acres, changed hands in a separate transaction.

Both properties were sold by Fort Lauderdale-based NuVision Management. The buyers secured a $46.6 million loan from Valley Bank, cross-collateralized with other Emerald and Infinite Care holdings.

Tamarac Rehabilitation specializes in skilled nursing and recovery services for stroke and injury patients, while Pinecrest offers post-hospital care and rehabilitation for conditions such as pneumonia, heart disease, fractures, joint replacement, Parkinson’s, and cancer-related diagnoses.

These acquisitions highlight steady demand for senior living and healthcare assets in South Florida, where an aging population continues to fuel resilience in the sector despite higher interest rates and inflation.

Recent activity underscores the trend: in April, Welltower purchased the 220-bed Oakmonte Village of Davie for $34.3 million, while Garden Healthcare acquired Eastridge at Cutler Bay for $24 million in June. Around the same time, senior living investor Leo Friedman picked up Abbey Delray, a 472-unit community, for $30 million.

Source: The Real Deal