Memory-Care Community Rosecastle at Deerwood Sells in Jacksonville, Florida

April 1, 2024

JACKSONVILLE, FL — Senior Living Investment Brokerage has announced its facilitation of  the sale of Rosecastle at Deerwood in this northeastern Florida city. The community was originally designed as a stand-alone memory care with 60 units, but due to slower than expected lease-up, the operator converted 20 of the units into assisted living. Rosecastle at Deerwood was built in 2015 on nearly 3.5 acres.

The seller was a senior housing and healthcare-focused real estate investment trust (REIT), while the buyer was a Florida-based owner.

Also: Sale of Two Minnesota AL/MC Communities Announced by Senior Living Investment Brokerage

There were multiple offers from both regional and national buyers to purchase this Florida community.

“The asset improved significantly throughout the marketing process and should be a strong performer as this submarket continues to absorb the newly constructed assets,” said SLIB Managing Director Bradley Clousing.

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