Pointe Group Care and Allaire Health Services scooped up Epworth Village Retirement Community and Susanna Wesley Health Center in Hialeah for $30.9 million.
Affiliates of nonprofit Epworth Village, led by Madelyn Lozano, sold the adjacent properties at 5300 West 16th Avenue and 5345 West 18th Avenue in two deals, according to records and real estate database Vizzda.
In the bigger purchase, Pointe Group and Allaire Health paid $19.4 million for the Epworth Village independent senior living complex at 5300 West 16th Avenue. It consists of five three-story buildings with a total of 290 units, plus a pair of one-story buildings, according to records and Vizzda.
Pointe Group and Allaire Health also paid $11.5 million for the three-story, 120-unit Susanna Wesley Health Center building at 5345 West 18th Avenue. It offers assisted living and professional nursing care, as well as rehabilitation services and recreational activities.
Epworth Village, which spans 9.6 acres, was built mostly in the 1980s, with some additions made in 2019, Vizzda records show.
The deal breaks down to $75,300 per unit.
Pointe Group is a senior living facilities owner and operator based in Norwood, Massachusetts, according to its website and LinkedIn. Its other Florida holdings are AdviniaCare Naples and AdviniaCare Venice along the state’s Gulf Coast, as well as AdviniaCare Paddock Ridge in Ocala. The remainder of Pointe Group’s portfolio is in the Northeast. Ben Berkowitz is CEO.
Allaire Health, based in Freehold, New Jersey, is an owner and operator of senior health care facilities in Pennsylvania, New York, New Jersey and Vermont, according to its website and LinkedIn. Benjamin Kurland is CEO.
Epworth Village appears to be Pointe Group and Allaire Health’s first South Florida investment. Neither lists properties in the tri-county region on its website.
Generally, independent living facilities are for seniors seeking a community that allows them an active lifestyle without the responsibility of homeownership. Assisted living centers usually focus on offering seniors aid with everyday tasks, tailored to each resident’s needs. Nursing care facilities are staffed with medical professionals.
The Epworth Village purchase comes amid a flurry of deals for senior centers in South Florida. Last month, Inspired Healthcare Capital paid $52.3 million for The Heritage at Delray, which includes assisted and independent senior living, as well as memory care units, at 5858, 5859 and 5861 Heritage Park Way in unincorporated Palm Beach County,
In December, PrivCap Companies sold a pair of assisted living facilities, at 6810 Southwest Seventh Street in Margate, and at 4681 Southwest 66th Avenue in Davie, for a combined $12.7 million. The buying entities are led by Zalman Skoblo and Zvi Jacobowitz of Brooklyn.