Inspired Healthcare Pays $52M For Assisted Living Facility In Delray Beach

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Inspired Healthcare Capital purchased an assisted living facility near Delray Beach for $52.3 million.

The Scottsdale, Arizona-based firm bought The Heritage at Delray, which includes assisted living, independent senior living and memory care units, at 5858, 5859 and 5861 Heritage Park Way in unincorporated Palm Beach County, according to records and real estate database Vizzda. The seller is an affiliate of ValStone Partners.

Inspired Healthcare took out $26.5 million in financing on the property. It assumed a $25.5 million existing mortgage and increased it with a $980,000 loan from Comerica Bank.

The Heritage consists of 259 units in three three-story buildings on 16.2 acres, Vizzda records show. Completed in 1988, the facility offers studios, as well as one- and two-bedroom units.

The deal breaks down to $202,000 per unit.

The Heritage has 76-100 assisted living units, 31-50 memory care units and 76-100 independent senior living units, according to Vizzda.

ValStone paid $21.2 million for The Heritage in 2012, property records show.

Source: The Real Deal

May 1, 2023/by admin

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