Millennium Management Pays $30M For Medical Facilities In Broward

Health care real estate investment trust Welltower just sold two of its medical buildings in Broward to Abraham Shaulson’s Millennium Management for $29.2 million.

In two separate deals, Welltower sold the Manorcare Health Services nursing care facility at 6931 West Sunrise Boulevard in Plantation for $14.2 million, and the Heartland of Tamarac nursing home at 5901 Northwest 79th Avenue for $15.4 million.

The sale of the 45,942-square-foot Manorcare facility breaks down to about $310 per square foot. It features 120 beds. The 75,552-square-foot Heartland of Tamarac facility sold for about $200 per square foot and features 151 beds. Both were built in the 1980’s.

Miami-based Millennium operates scores of nursing homes throughout the United States. In 2016, it paid $15 million for a psychiatric campus in Hialeah.

Source: The Real Deal

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