Miami-Dade nursing homes trade for $ 33 million


13900 Northeast Third Court and 18905 Northeast 25th Avenue (Google Maps)

Aventura Nursing Homes’ Claridge House and Regents Park in northern Miami-Dade County sold for a combined $ 33.4 million.

CareRite, based in Englewood Cliffs, New Jersey, through affiliates, bought half of each facility’s stake, according to records. Two other entities, each managed by Bent Philipson of Spring Valley, New York, purchased the remaining stakes in the two retirement homes.

Claridge House Associates and Regents Park at Aventura Associates, managed by Jack Rajchenbach, were the vendors.

In the largest deal, the 241-room Claridge House at 13,900 Northeast Third Court near North Miami traded for $ 17.5 million. The 64,276-square-foot building was constructed in 1985 on 3.7 acres, according to property records.

The 180-room Regents Park in Aventura at 18905 Northeast 25th Avenue sold for $ 15.9 million. The property was built in 1987 on 3.6 acres, according to records.

Nursing homes, assisted living facilities, and memory and rehabilitation centers in Florida are a popular real estate category for investors, in light of the state’s reputation as a magnet for retirees.

CareRite, co-founded by director Mark Friedman, has bet this year on Miami-Dade retirement homes. The company has facilities in New York, New Jersey, Tennessee and Florida, according to its website.

In July, CareRite purchased the nursing and rehabilitation center at Coral Reef Subacute Care Center for $ 35 million.

In Palm Beach County, Lone Star Funds purchased a senior residence complex in Palm Beach Gardens and another senior residence complex near Boca Raton in June for a total of $ 57 million.


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