Jon Paul Pérez And Stephanie Williams-Baldwin Acquire Senior Housing In South Pasadena For $28.8M

The transaction involves the sale of a senior housing asset located at 880 Oleander Way South in South Pasadena, FL. The property, known as Bay Pointe Tower, consists of 210 units and was sold for $28.8 million, resulting in a price per unit of $137,143. The acquisition was financed with a $25.2 million loan from Merchants Bancorp, which matures in 2027.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $28,800,000
• Units: 210
• Price Per Unit: $137,143
• Buyer: Jon Paul Pérez - Related Group
• Buyer: Stephanie Williams-Baldwin - Florida Community Development Corp
• Seller: Robbins Property Associates
• Lender: Merchants Bancorp

The acquisition of Bay Pointe Tower signifies a successful investment for Robbins Property Associates, who had purchased the property for $8.6 million in 2014. The transaction reflects the ongoing strengthening of senior housing investment volumes and pricing in the market.