Brandon memory care center sold as part of $23 million portfolio

A five-property senior housing portfolio in Florida that just sold for $22.92 million includes a facility in Hillsborough County.

The local property is Superior Residences of Brandon at 1819 Providence Ridge Blvd. The 46-bed memory care facility sold for $3.58 million, according to county records.

According to Pasco County-based Continuum Advisors, which brokered the deal, the Brandon property was sold to one of three buyers who bought the portfolio from Healthcare Management Partners.

HMP, a health care restructuring consulting firm, oversaw the sale and operations of the properties after a Texas nonprofit that bought the entities in 2018 defaulted on its debt, according to Continuum.

The local firm says it simultaneously negotiated and did due diligence with the three buyers. The sale of the five communities all closed March 31.

An LLC tied to Better Care Home Health in Tampa bought the Brandon facility, according to Hillsborough records.

Continuum Advisors specializes in the sale of senior housing communities nationwide. The firm, whose office is in Land O’Lakes, has closed more than 200 deals since 2001, including more than $1.4 billion in court directed and distressed sales.

The other four properties were:

• Superior Residences of Clermont, a 114-unit assisted living and memory care facility in Lake County. Online property records have not been updated to reflect the sale.
• Superior Residences of Cala Hills, a 60-unit memory facility in Ocala. Marion County online property records have not been updated to reflect the sale.
• Superior Residences of Lecanto, a 60-unit memory care facility in Citrus County. It sold for $3.58 million, according to county records.
• Superior Residences of Niceville, a 90-unit memory care facility in Okaloosa County. It sold for $3.25 million, according to county records.