Coastline Management Group And RWW Gainesville Acquire Senior Housing In Gainesville For $35M

The Pavilion on 62nd, a 312-unit student housing community in Gainesville, Florida, has been sold for $35 million. The property, located at 1000 Southwest 62nd Street, was acquired by a joint venture between Coastline Management Group and RWW Gainesville, LLC. The sale was facilitated by Cushman & Wakefield.

Summary of transaction details

• Property Type: Senior Housing
• Transaction Amount: $35,000,000
• Address: 1000 Southwest 62nd Street, Gainesville, Florida
• Market: Gainesville
• Buyer: Coastline Management Group - Eyal Mehaber ; RWW Gainesville, LLC
• Brokers: Mike Donaldson, Nick Meoli, Travis Prince & Victoria Marks Vagnier - Cushman & Wakefield
• Units: 312
• Price per unit (PPU): $112,179

The joint venture between Coastline Management Group and RWW Gainesville, LLC plans to carry out significant renovations on The Pavilion on 62nd to meet the high demand from the University of Florida and Shands Hospital.