Myers, Jandris, and Hilding of IPA secure $48 million portfolio sale; Emeritus at Landing facilities sold to Brookdale Senior Living

February 02, 2016 - Upstate New York
Emeritus at Landing of Brockport, 90 West Avenue - Brockport NY Emeritus at Landing of Brockport, 90 West Avenue - Brockport NY
Brockport, NY Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, arranged the sale of two senior living communities in Upstate New York. The properties are Emeritus at Landing of Brockport, located at 90 West Ave., Brockport and Emeritus at Landing of Queensbury, located at 27 Woodvale Rd., Queensbury. The total sales price for the two assets is $48 million. “This transaction represents an excellent opportunity for the buyer to continue its successful operations in Upstate New York and for the seller to generate additional liquidity to be deployed into further successful seniors housing investments,” said  Mark Myers. IPA’s Myers, Joshua Jandris, and Charles Hilding represented the seller, a private family office from the Rochester area. The buyer is Brookdale Senior Living. J.D. Parker, senior vice president and district manager, is Marcus & Millichap’s broker of record in New York State. Combined, the Emeritus at Landing facilities in Brockport and Queensbury consist of 183 units.

More from the New York Real Estate Journal