Pete Briger Of Fortress Investment Group Acquires Astor At Delray Beach For $25.75M

The property involved in this transaction is the Symphony at Delray Beach, an assisted living facility located at 4840 West Atlantic Avenue, Delray Beach, FL. The asset encompasses 118 units across a total of 126,918 square feet. The property, situated on 4.2 acres, was built in 2018 and features assisted living, memory care services, nursing care, dining, fitness and recreational amenities. The sale price for the facility was $25,750,000, translating to approximately $218,220 per unit.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $25,750,000
• Buyer: Pete Briger - Fortress Investment Group
• Seller: Kenneth R. Assiran - Capital Health Group; Anthony Stabelin - Elegance Living
• Lender: Atlantic Union Bank
• Units: 118
• Price Per Unit: $218,220
• Square Footage: 126,918
• Price Per Square Foot: $203

In this transaction, Pete Briger represented Fortress Investment Group as the buyer, while Kenneth R. Assiran represented Capital Health Group and Anthony Stabelin represented Elegance Living as the sellers. The transaction signifies Fortress Investment Group's strategic acquisition in the senior housing market, with the facility being renamed Astor at Delray Beach post-acquisition.