{"id":1004050418,"date":"2012-08-29T07:06:14","date_gmt":"2012-08-29T15:06:14","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=65888"},"modified":"2020-04-03T06:10:52","modified_gmt":"2020-04-03T14:10:52","slug":"carlyle-group-buys-lender-owned-independent-living-community-for-19m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/carlyle-group-buys-lender-owned-independent-living-community-for-19m\/","title":{"rendered":"Carlyle Group Buys Lender-Owned Independent Living Community for $19M"},"content":{"rendered":"<p><em>By Georgiana Mihaila, Associate Editor<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/08\/brighton-bay.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-65895\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/08\/brighton-bay.jpg\" alt=\"\" width=\"300\" height=\"225\" \/><\/a><\/em><\/p>\n<p>The Carlyle Group has purchased the lender-owned independent living community Brighton Bay for $19 million. The sales price represents $102,703 per unit or $85 per square foot.<\/p>\n<p>The 185-unit property is located in southeastern Jacksonville. Michael Pardoll, senior vice president investments in Marcus &amp; Millichap\u2019s Charlotte, N.C. office, represented the seller, a subsidiary of Wells Fargo &amp; Co. which entered into possession of the retirement home in 2011 for $25.7 million.<\/p>\n<p>\u201cOccupancy at independent living facilities will continue to strengthen as spillover demand filters in from age-restricted and market-rate communities,\u201d says Pardoll. \u201cBrighton Bay is well positioned to take advantage of this trend and also to change with the times as the property was built to code for conversion to assisted living.\u201d<\/p>\n<p>Following the purchase, The Carlyle Group, a Washington, D.C.-based asset management company, brought in Leisure Care as its management partner. The companies\u00a0have partnered in The Carlyle Group&#8217;s\u00a0previous three acquisitions.\u00a0The addition of Brighton Bay to Leisure Care&#8217;s operations portfolio has contributed to a 20 percent growth of the third-party management company\u2019s managed assets.\u00a0The asset represents\u00a0Leisure Care\u2019s 40<sup>th<\/sup> location.<\/p>\n<p>The 222,444-square foot Brighton Bay was constructed in 2010 on 8.2 acres. The community is located at 10061 Sweetwater Parkway, less than one mile from Florida State Road 9A. It is\u00a0next door to a 1,000-resident retirement community, and 15 minutes from downtown Jacksonville.<\/p>\n<p>Brighton Bay offers studio, one-bedroom and two-bedroom residential suites on four floors. All suites include a full kitchen, large living room and one or more bathrooms.<\/p>\n<p>For more market data on Jacksonville, <strong><a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-jacksonville-sees-first-job-growth-in-years-vacancy-to-level-out-at-8-5-percent\/1004055658.html\" target=\"_blank\" rel=\"nofollow\">click here<\/a><\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Carlyle Group has purchased the lender-owned independent living community Brighton Bay for $19 million. The sales price represents $102,703 per unit or $85 per square foot.<\/p>\n","protected":false},"author":1269,"featured_media":1004506254,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1591,21742],"tags":[],"class_list":["post-1004050418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-jacksonville","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Carlyle Group Buys Lender-Owned Independent Living Community for $19M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/carlyle-group-buys-lender-owned-independent-living-community-for-19m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Carlyle Group Buys Lender-Owned Independent Living Community for $19M\" \/>\n<meta property=\"og:description\" content=\"The Carlyle Group has purchased the lender-owned independent living community Brighton Bay for $19 million. 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