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The Barrington
Senior Living Near Tampa Bay, FL

 

INVESTMENT HIGHLIGHTS

  • The Barrington is a community totaling 149-units (65-IL & 84-AL) and located in Largo, FL
  • Within the past 12 months, the property has received nearly $1.0M in improvements
  • Over the June 2019 Year-to-Date financial period, the Property averaged 96% occupancy, with an annualized EBITDAR exceeding $1.383M
  • Institutional Property Advisors projects,  through  improved  cost  savings,  The  Barrington  will  generate  over  $1.9M  in  EBITDAR
     

THE OFFERING

Institutional Property Advisors, in conjunction with RealINSIGHT Marketplace, is pleased to offer the opportunity to acquire The Barrington, a 96% occupied, 149-unit independent and assisted living facility in Largo, Florida (the “Property”). The facility contains 65 independent living units and 84 assisted living units.

The Property comprises one building on 10.23 acres of land. The building was constructed in 1986 and has since been renovated, the most recent improvements occurring within the past 12 months. The Barrington houses many amenities for residents including a dining hall with freshly prepared meals, fitness center, arts and crafts room, game room, beauty salon, library, heated year-round pool, rehabilitation center, as well as various other programs and classes.

The Property is located in the ideal retirement community of Largo, Florida, approximately 15 miles from Tampa. Pinellas County reports 26.1% of the population is over 65 years old, well above the state of Florida average of 20% and national average of 16%. Additionally, the 65-plus population within a five-mile radius of the property is expected to increase by 13.1% through 2023.

 

 

Mission Capital Advisors, in conjunction with Institutional Property Advisors, is pleased to offer Seller Approved Financing Options

Financing for The Barrington 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 will be provided to 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.

The Barrington

901 Seminole Boulevard, Largo, FL 33770

Current Bid:
Starting Bid:

Asset Snapshot

  • Asset Type
  • Real Estate
  • Land Area
  • 10.23 Acres
  • Year Built
  • 1988
  • Year Renovated
  • 2019
  • Number of Floors
  • 4
  • Number of Buildings
  • 1
  • Parking Count
  • 151
  • Occupancy
  • 94.63%
  • Occupancy as of
  • Aug 01, 2019
  • Multifamily Type
  • Independent Living
  • Number of Units
  • 149 Units
  • Property Size
  • 125,769 Sq Ft
  • Bed Count
  • 167
  • 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