A senior housing property in Parkland has sold for $63.81 million, underscoring continued investor interest in senior living assets across South Florida.

The property, Aston Gardens at Parkland Commons, is located at 9401–9423 Aston Gardens Court and spans approximately 349,250 square feet. The 100-licensed-bed community sits on 19.9 acres and offers independent living, assisted living and memory care services.

Parkland FL Senior Housing Propco, affiliated with Boca Raton-based Kayne Anderson Real Estate, sold the property to VTR ASTG Parkland Commons, an affiliate of Chicago-based Ventas, a publicly traded senior housing and health care real estate company. As part of the transaction, the buyer assumed a $39.25 million Citibank mortgage tied to a commercial mortgage-backed securities trust. Vizzda confirmed the deal details.

The sale reflects a gain from the property’s last trade, when it sold for $55.74 million in 2020.

Built in 2001, Aston Gardens at Parkland Commons includes amenities such as a swimming pool, beauty salon, game room, fitness center and dining room, along with on-site caregiver services.

Demand for senior housing remains strong in South Florida, where an aging population continues to drive need for assisted living and memory care options. The deal also places renewed attention on Parkland, an affluent Broward County city recently recognized by U.S. News & World Report as one of the country’s top places to live.

Source: SFBJ