9225 Causeway Blvd, Tampa, FL, 33619-6615, US

The Meridian at Brandon

Descrição do ativo

JLL Seniors Housing Capital Markets (“JLL”) is pleased to exclusively offer for sale The Meridian at Brandon (“Property,” “Asset,” “Community”), a premium 136-unit assisted living and memory care community in Tampa, Florida. Built in 2022, this modern Class A two-story community is located on a 5.94-acre parcel with a prime location at a well-connected intersection, offering excellent accessibility and visibility with a daily traffic flow of 43,000 vehicles. The Community’s performance has accelerated highlighted by substantial NOI growth with the rolling T3 NOI increasing by approximately 190% to over $1.75MM through January 2025 from February 2024. Additionally, occupancy increased from 70% to 90% over the last 12 months.

There is further upside in the Property’s final push to stabilized occupancy, burning off agency labor, and continued rent plus care growth. There is a vacant adjacent lot which would be ideal for a future expansion.

The Property provides an investor with substantial upside at a discount to replacement cost in one of the most premier destination states in the nation for retirees. The Community is offered unencumbered by management and free and clear of debt.

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Atributos

Número de unidades

136

Ocupação

90%

Ano de construção

2022

Número de andares

Estratégia de investimento

Núcleo Plus

Classe do edifício

Mídia

Destaques do investimento

2022-Construction: The Meridian at Brandon is just 3 years old and constructed to Class A standards. The 136-unit AL/MC community offers scale and operational efficiencies.

Premier Retirement Destination: Tampa is one of the top retirement destinations in the United States with abundant affluent senior populations.

Discount to Replacement Cost: The Community is offered well-below today's replacement cost and its original basis.

Improving Performance: With occupancy recently topping 90%, the investment opportunity presents tremendous steadily improving cash flow and meaningful NOI growth potential.

Unencumbered Offering: The Property is offered free and clear of financing and unencumbered by management. There is the opportunity to partner with the current manager, Meridian Senior Living, a leading national senior housing operator.