Grand Villa of Pinellas Park
8980 49th Street North, Pinellas Park, FL 33782
Grand Villa of Pinellas Park was an operating assisting living community when it was acquired in June 2013.
The community was underperforming.
The Story
1
Senior Management Advisors began operations of the community in June of 2013, overseeing a total of 73 residents, representing a 71% occupancy. At this time there was an annualized net operating loss of $62K.
2
By May of 2014, less than one year after acquisition, the community grew census to 110 residents, representing a 90% occupancy with an increase in the annualized net operating income to $600K.
3
By the beginning of 2015, Senior Management Advisors completed major renovation projects, with a total cost of $1.9M.
4
Over the next 9 years of operation, Senior Management Advisors successfully grew the maximum functional capacity of residents from 103 to 131, peaking at a census of 96%.
5
At the time of sale, the community had a census of 122 residents, representing a 93% occupancy with an annualized net operating income totaling $1,002K.
6
The community was sold in September of 2022 for $15.5M. Based on the January 2025 FS, total contributions were $6.2M and total distributions were $18M.
About
The Purchase
The property was originally purchased for $3.8M. Within the first 18 months, significant renovations were made to the community totaling $1.9M.
To date, the total investment in capital assets is $7.8M as the property was continually updated.
The Numbers Are In
$6.2M
The total cash investment in the project was $6.2M.
$11.6M
Over $11.6M in distributions were made to the partners.
$15.5M
Return on Investment of $15.5M, there is a remaining liquidation value of $6.4M.
$18M
This resulted in a total cash return of $18.0M on a $6.2M investment.
