Inspired Healthcare Capital Acquires Senior Housing In St. Petersburg For $29M

The Grand Villa memory care and assisted living center in St. Petersburg has been sold for $29 million to Inspired Senior Living. The complex encompasses 192 units and spans 120,784 square feet, offering a diverse range of amenities including a swimming pool and movie theater. The sale price translates to an average price per unit of $151,042 and a price per square foot of $240. The property is situated at 3600 34th Street South in St. Petersburg.

Summary of transation details

• Property Type: Senior Housing
• Sale Price: $29,000,000
• Units: 192
• Price per Unit: $151,042
• Square Feet: 120,784
• Price per Square Foot: $240
• Address: 3600 34th Street South
• Market: St. Petersburg

The buyer in this transaction is Inspired Healthcare Capital, with Luke Lee representing them. The seller is VS St. Pete LLC. Webster Bank National Association acted as the lender and provided a $7.1 million mortgage loan for the purchase. The acquisition of the Grand Villa memory care and assisted living center adds to Inspired Senior Living's portfolio of senior housing properties.