Michael Boehne of Prudential Blake represented the estate of Peter Polsinelli, seller, in the sale of a 97-unit medium-rise senior housing community, to Holiday Retirement at a purchase price of $5 million. The property will undergo a name change from "Heritage Arms" to "Holiday at the Atrium."
Boehne said, "The investment property market remains strong and the buyers are plentiful, as long as the numbers make sense."
Holiday Retirement owns and operates more than 300 senior communities in the U.S.
Previously, Boehne had represented the same seller in the sale of its adjoining 148-unit garden-style apartment complex to a local investor at a purchase price of $5.863 million. Tags: