Naftali Weiss And Joshua Fogel Acquire Jupiter Rehabilitation And Healthcare Center For $19.2M

The property asset involved in the transaction is a nursing home located at 17781 Thelma Avenue in Jupiter, Florida. The nursing home features 120 beds and spans across 5 acres. The sale was executed for a price of $19,200,000, translating to a price per square foot of $582 for its total area of 32,969 square feet.

Summary of transaction details:

• Property Type: Nursing Home
• Transaction Amount: $19,200,000
• Address: 17781 Thelma Avenue
• Market: Jupiter
• BEDS: 120
• ACRES: 5
• Buyer: Naftali Weiss & Joshua Fogel - FL Realty
• Seller: Mark Friedman - CareRite Centers
• Lender: Merchants Bank of Indiana
• Price per Bed: $160,000

A New Jersey-based group led by Naftali Weiss and Joshua Fogel facilitated the purchase through FL Realty. The loan for the transaction was secured from Merchants Bank of Indiana, amounting to $15.44 million. This purchase represents a significant appreciation from the property's previous sale price of $12 million in 2016, indicating a robust demand for nursing home care in Palm Beach County.