The asset involved in the transaction is a senior housing facility located at 1080 Northwest 15th Street in Boca Raton. The property consists of 160 beds and was sold for $12,200,000. This transaction represents a significant reduction, estimated at approximately $10 million below its 2017 sale price.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $12,200,000
• Address: 1080 Northwest 15th Street
• Market: Boca Raton
• Beds: 160
• Buyer: Liat Toledano & Isaac Toledano - BH Group; Michael Verbitsky - Gold Standard of Care
• Seller: Stephen A. Schwarzman - Blackstone

The transaction involves BH Group and Gold Standard of Care, who acquired the property as part of a broader divestment of a South Florida senior living portfolio. The joint venture plans to operate the property under the name AHAVA Senior Residences. Additionally, they purchased another property, Sterling Aventura, for $12 million, aiming for redevelopment and modernization in key South Florida markets.