Barry Braunstein, Samuel Feuer & Mordechai Weisz Acquire East Ridge Retirement Village For $24M

The property involved in this transaction is a 403-unit senior housing community located at 19301 Southwest 87th Avenue in Cutler Bay. The asset was sold for $24 million, resulting in a price per unit of $59,553. The property spans over 76.1 acres and offers multiple levels of care to its residents.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $24,000,000
• Buyer: Barry Braunstein, Samuel Feuer & Mordechai Weisz
• Seller: Lawrence Schreiber - East Ridge Retirement Village
• Lender: Dime Community Bank
• Units: 403
• Price Per Unit: $59,553

This deal involved two tenant-in-common groups led by New Jersey investors Barry Braunstein, Samuel Feuer, and Mordechai Weisz, who acquired the East Ridge at Cutler Bay senior living community. The financing for the acquisition was secured through a $36 million loan from Dime Community Bank.