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Glenbrooke at Palm Bay
Premier Stabilized Senior Living Facility Asset Sale

Investor Tours/Dates:  Please Contact the Newmark Knight Frank team to schedule a tour  

September 24 & 25, October 1 & 2 , October 8 & 9

 

INVESTMENT HIGHLIGHTS

EXCELLENT LONG-TERM STRATEGIC INVESTMENT
Glenbrooke at Palm Bay, located in Palm Bay, Florida is a ~95% occupied Community that represents an excellent risk-adjusted acquisition for the next investor. Investors will capture value through maintaining high output returns at the Community which is running smoothly at a 40% net operating income (NOI) margin.

BEST IN CLASS SENIORS HOUSING INVESTMENT
The Community represents the opportunity to invest in a ~95% occupied, stabilized seniors housing property located in Palm Bay Florida with strong historical performance and significant upside through rental rate growth seasoning and operational efficiencies. Additionally, a generator in compliance with Florida regulation is currently being installed at the Property.  

OUTSTANDING DEMAND PROSPECTS
National demographic trends have provided the qualitative basis for the community’s positive momentum in occupancy and rent growth suggesting that seniors housing market fundamentals will continue to improve in the short and long term.

LACK OF NEW SUPPLY IN SUBMARKET
Dearth of seniors housing supply presents the opportunity to corner the Palm Bay seniors housing market and provide valuable upside for the investor. With proven demand for Independent Living (IL) and Assisted Living (AL) in the market, the investment presents the opportunity to capitalize on a market already cornered by Glenbrooke Palm Bay.

 

THE OFFERING

Newmark Knight Frank (“NKF”), in conjunction with RealINSIGHT Marketplace, is pleased to offer qualified investors the rare opportunity to acquire an independent living and assisted living community totaling 170 units located in Palm Bay, Florida known as Glenbrooke at Palm Bay (the “Community” or “Property”). Currently ~95% occupied, the community offers investors an institutional-quality, stabilized building with limited downside risk and significant remaining upside potential. The Community’s sought-after location on the coast of Florida and its proximity near retail, restaurants and healthcare, makes this an excellent investment opportunity. Glenbrooke at Palm Bay boasts extremely attractive demographics and high barriers to entry, which presents the opportunity for an excellent long-term strategic investment. 

 

 

 

 

Mission Capital Advisors, in conjunction with Newmark Knight Frank, is pleased to offer Seller Approved Financing Options

Financing for Glenbrooke at Palm Bay is available through Mission Capital’s Debt & Equity Finance Group and CW Capital Markets.  Investors interested in financing the purchase of the asset should contact Alex Draganiuk (adraganiuk@missioncap.com) of Mission Capital in order to discuss potential financing options.   Preliminary debt quotes have been provided in the Diligence vault for those groups that will exclusively engage Mission Capital to assist with debt placement.

Benefits include:

- Lender access to Property to conduct Lender Inspections and Third Party Reports

- Significant experience across the entire capital stack

- Unparalleled capital markets knowledge

- Development of the most creative financing strategies

- Established relationships with debt funds, insurance companies, investment banks, foreign and domestic banks, agencies and pension funds

- Provide clients with the most competitive terms and most reliable execution

 

How you receive these benefits:

1 - Contact: Alex Draganiuk at 212-941-2276 or adraganiuk@missioncap.com

2 - Complete Finance Pre-Screening (before auction)

3 - Complete Debt Placement Agreement (before auction)

4 - Complete Bid Registration Process (before auction)

5 - Win Auction

6 - Fulfill Lender Checklist

7 - Close Loan

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MARKET LEADING MORTGAGE BANKING FIRM

Founded in 2002, Mission Capital Advisors, LLC is a leading national, diversified real estate capital markets solutions firm with offices in New York, Florida, Texas, California, Alabama, and South Carolina. The firm delivers value to its clients through an integrated platform of advisory and transaction management services across debt, mezzanine, and JV equity placement; commercial and residential loan sales; and loan portfolio due diligence and valuation. Mission Capital Advisors is extremely active in arranging financing for office, industrial, multifamily, hospitality, retail, self-storage and special-use properties across the country.

Since its inception, Mission Capital has advised a variety of leading financial institutions on more than $59 billion of loan sale and financing transactions and in excess of $23 billion in loan sale trade support, including Fannie Mae and Freddie Mac agency delivery and cash sale transactions, positioning the firm strongly to provide unmatched loan portfolio valuation services for both commercial and residential assets. Mission Capital’s seasoned team of industry-leading professionals is committed to achieving clients’ business objectives while maintaining the highest levels of integrity and trust. For more information, visit www.missioncap.com.

 

 

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Glenbrooke at Palm Bay

815 Briar Creek Boulevard Northeast, Palm Bay, FL 32905

Call for Information
  • Asset Type
  • Real Estate
  • Land Area
  • 12.75 Acres
  • Year Built
  • 2003
  • Year Renovated
  • 2019
  • Number of Floors
  • 3
  • Number of Buildings
  • 8
  • Parking Count
  • 143
  • Occupancy
  • 95.29%
  • Occupancy as of
  • Aug 27, 2019
  • Multifamily Type
  • Independent Living
  • Number of Units
  • 170 Units
  • Property Size
  • 190,100 Sq Ft
  • Bed Count
  • 209
  • Platform Fee

    Platform fee for this transaction is 5.00% or a minimum of $25,000.

  • Auctioneer

    1. Lamar P. Fisher

      Fisher Auction Company Inc.

      License: AU93 Fisher Auction Co: AB106