Please Wait ...

 Lake Forest Park
Premier Stabilized Senior Living Facility Asset Sale 

Investor Tours/Dates:  Please Contact the Mission Capital team to schedule a tour of the Property  

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

INVESTMENT HIGHLIGHTS

Stabilized with Strong Cash Flow – The property is currently 92.5% occupied as of September 2019 and reported a T-12 NOI of $1.4mm.  Occupancy has remained stable for several years, the past four of which has seen occupancy over 90%.

Prime Location in a Growing Market – St. Lucie County reports 24.1% of the population over the age of 65, which outpaces the state of Florida (20.5%) and national (16.0%) averages.  Furthermore, within a five-mile radius of the property, the 65-plus population is forecasted to increase by 23.66% through 2023. The expected growth far outpaces that of the general population (6.91%) for the same time-period.

High Quality and Well Maintained – The property was significantly renovated in 2010 with additional improvements occurring in 2013 including new flooring, parking lot resurfacing, landscaping and exterior power washing. Additionally, many of the independent living units have been renovated over the past few years as units have turned over.  To date, approximately 20 of the independent living units have been renovated.  
 

DESCRIPTION

RealINSIGHT Marketplace and Mission Capital Advisors are pleased to offer the opportunity to acquire the fee simple interest in Lake Forest Park, an 89.8% occupied,127-unit memory care, independent and assisted living facility in Fort Pierce, FL.  The facility contains 59 independent living units, 56 assisted living units, and 12 memory care units .

The property was built in 2000 and consists of 28 buildings containing a total area of approximately 123,179 square feet on a 14.45-acre site zoned PUD & I, Planned Unit Development & Industrial.  Extensive renovations occurred in 2010, with additional improvements completed in 2013. The main two-story assisted living building contains many of the property’s amenities including a living room with a fireplace, dining room, library, full commercial kitchen, activity room, break room, laundry room and wellness area. 

The property is located approximately 5 miles from Port St. Lucie, one of the premier retirement locations in the U.S. St. Lucie County reports 24.1% of the population over the age of 65, which outpaces the state of Florida (20.5%) and national (16.0%) averages.  Within a five-mile radius of the property, the 65-plus population is forecasted to increase by 23.66% through 2023. The expected growth far outpaces that of the general population (6.91%) for the same time-period.

Mission Capital Advisors is pleased to offer Seller Approved Financing Options

Financing for Lake Forest Park 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 Dilgence 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

______________________________________

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.

Lake Forest Park

2909 S. 25th Street, Fort Pierce, FL 34981

Expired

Asset Snapshot

  • Asset Type
  • Real Estate
  • Land Area
  • 14.45 Acres
  • Year Built
  • 2000
  • Year Renovated
  • 2010
  • Number of Floors
  • 2
  • Number of Buildings
  • 29
  • Occupancy
  • 92.50%
  • Occupancy as of
  • Sep 05, 2019
  • Multifamily Type
  • Assisted Living
  • Number of Units
  • 127 Units
  • Property Size
  • 123,179 Sq Ft
  • Bed Count
  • 191
  • 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