Citadel Care Centers Acquires Abbey Delray Senior Living Facility From Lifespace Communities For $30M

The Abbey Delray senior living facility located at 2000 Lowson Boulevard in Delray Beach is a 472-bed property situated on 25.7 acres. The facility, which offers independent living, assisted living, nursing, and memory care services, was sold for $30 million. This transaction marks the first sale since the property's development in 1980.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $30,000,000
• Buyer: Leo Friedman - Citadel Care Centers
• Seller: Jesse Jantzen - Lifespace Communities
• Lender: Metropolitan Commercial Bank
• Additional Financing: $8.25M mezzanine debt from Northwind Group
• Market: Delray Beach
• Assets: 472 beds, 25.7 acres

Ran Eliasaf of Northwind Group was involved in providing mezzanine debt for the financing of the deal, indicating collaboration between key financial entities in the transaction. This significant deal involved prominent players in the senior housing market, underscoring the operational dynamics among buyers, sellers, and financial institutions.