Alain Hernandez & Lonnie Steckler Acquire Senior Housing In Deerfield Beach For $17.05M

The Grand Villa of Deerfield Beach, located at 1050 Southwest 24th Avenue in Deerfield Beach, is a senior housing facility that spans 73,201 square feet. It was sold for $17,050,000, translating to approximately $233 per square foot. The property, which accommodates 240 beds, was sold by ValStone Asset Management.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $17,050,000
• Sale Price Per Square Foot: $233
• Square Footage: 73,201
• Address: 1050 Southwest 24th Avenue
• Market: Deerfield Beach
• Buyer: Alain Hernandez & Lonnie Steckler - HealthTrust Management - Pointe Real Estate LLC & 2C1J Properties III
• Seller: Gerald C. Timmis III, Larry E. Jennings Jr & Eric Abel - ValStone Asset Management
• Seller Financing: $11.8 million
• Price Per Bed: $71,042

The transaction involved a local investor group led by Alain Hernandez and Lonnie Steckler, who represent Pointe Real Estate LLC, which holds a 70% stake in the purchase, while 2C1J Properties III holds the remaining 30%. The sale was facilitated with substantial seller financing amounting to $11.8 million, reflecting the group's investment strategy in the senior housing market.