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Tequesta Assisted Living Facility Sells For $12.3 Million

The Tequesta Terrace Assisted Living Facility in the northern Palm Beach County town sold for $12.3 million.

Manchester Center, Vermont-based Terrace Communities Tequesta LLC, a partnership between Kate Heaton of A.L. Investments, Mark P. Mitchell and Gerald A. Goray, sold the 106-unit assisted living and memory care facility at 400 N. U.S. 1 in Tequesta to Tequesta Propco LLC, in care of West Palm Beach-based Alta Senior Living. Thorofare Asset Based Lending REIT Fund V provided a $15.4 million mortgage covering both the property and the operations of the facility.

The 82,210-square-foot facility was developed on the 2.82-acre site in 2001.

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January 10, 2022/by ADMIN

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