GULF BREEZE, FL - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multi-housing industry, brokered the $24,000,000 sale of The Blake at Gulf Breeze. The property is a 107-unit assisted living and memory care community located in Gulf Breeze, Florida in Santa Rosa County. AEW Capital Management, a global real estate investment manager, acquired the property on behalf of AEW Senior Housing Investors, L.P.
ARA’s Seniors Housing specialists Ryan Maconachy and Chad Lavender represented Twin Palms, LLC in the sale of the asset. Going forward, the community will be operated by Blake Management Group, who was the original developer of the asset.
The two-story community has 70 assisted living units and 37 memory care units. Built in 2008, The Blake is located in a desirable location with state-of-the art amenities. The community has an extended congregate care (ECC) license, which sets the facility above competing properties in the level and standard of care it can offer to its residents.
“AEW saw this as an opportunity to purchase a Class A fully-stabilized community, while at the same time establishing a new relationship with Blake Management Group, a quality developer/operator.” says Chad Lavender of ARA National Seniors. “Occupancy at The Blake at Gulf Breeze was approximately 95% at the time of sale. “
The local licensed broker was ARA’s Florida office, which is based in Boca Raton, FL.
To schedule an interview regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 678.553.9360 or Amy Morris at amorris@ARAusa.com, 678.553.9366; locally, Ryan Maconachy at rmaconachy@ARAusa.com or 214.420.3110.
About ARA
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, note sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in average annual production volume of $5.4 billion in real estate transactions since 2004. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com
About AEW
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage over $31 billion of capital invested in over $45 billion of property and securities in North America, Europe and Asia (as of September 30, 2011). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Singapore and Hong Kong, as well as additional offices in nine European cities. For more information please visit www.aew.com