Smith & Henzy Affordable Group Acquires Senior Housing In Boynton Beach For $53M

The Boynton Beach senior housing community located at 1785 4th Court Northeast, spanning 21.4 acres, was recently sold for $53 million. The transaction involved the buyer, Darren Smith of Smith & Henzy Affordable Group, acquiring the property from the seller, Jeff T. Blau of Related Group. The Housing Finance Authority of Palm Beach County facilitated the deal by providing $58 million in mortgages to support the purchase.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $53,000,000
• Buyer: Darren Smith - Smith & Henzy Affordable Group
• Seller: Jeff T. Blau - Related Group
• Lender: Housing Finance Authority of Palm Beach County

Smith & Henzy Affordable Group's acquisition of the Boynton Beach senior housing community for $53 million underscores the growing demand for affordable housing in Palm Beach County. The purchase was backed by $58 million in mortgages from the Housing Finance Authority of Palm Beach County, with income restrictions applying to eligible residents earning under $50,000 per year.