Elliott Mandelbaum & Samuel Rieder Of Tordjman Equities Acquire Nursing Home In Miami For $22.63M

A nursing home located at 190 Northeast 191st Street in Miami, FL, sold for $22,630,000. The property encompasses 2 acres and has a total square footage of 46,176. The price per square foot for this transaction was $490.

Summary of transaction details:

• Property Type: Nursing Home
• Transaction Amount: $22,630,000
• Buyer: Elliott Mandelbaum & Samuel Rieder - Tordjman Equities
• Seller: KC Cross - Mountaineer Development (Volunteer Properties)
• Lender: Synovus Bank
• Mortgage Amount: $150 million
• Facility Capacity: 120 beds
• Operating Company: Lake Catherine Holdings

The Gardens Nursing and Rehab Center, a facility part of the transaction, was sold by KC Cross-managed Volunteer Properties of Miami Gardens LLC. The purchasing entity is 190 NE 191st ST FL LLC, affiliated with Tordjman Equities. The financing for the transaction was facilitated by Pinnacle Bank, operating as Synovus Bank, in a larger portfolio deal covering multiple properties in Florida.