Infinite Care Centers Acquires Nursing Homes In Tamarac And North Miami For $29.02M

The property involved in this transaction is a nursing home, consisting of a total of 220 beds and situated on 6.17 acres. This nursing home is located at 7901 North Pine Island Road and 13650 Northeast 3rd Court in the Tamarac and North Miami markets. The sale price for this asset was $29,020,000, with a total square footage of 68,570, resulting in a price per square foot of $423.

Summary of transaction details:

• Property Type: Nursing Home
• Transaction Amount: $29,020,000
• Address: 7901 North Pine Island Road & 13650 Northeast 3rd Court
• Buyer: Infinite Care Centers
• Seller: Andrew Weisman - NuVision Management
• Lender: VNB New York

Infinite Care Centers acquired two facilities from Andrew Weisman as part of this transaction, including the 120-bed Tamarac Rehabilitation and Health Center for $18.92 million and the 100-bed Pinecrest Rehabilitation Center in North Miami for $10.1 million. VNB New York provided financing for these transactions along with two other facilities in New York through a mortgage totaling $46.61 million.