Tordjman Equities has paid at least $23.8 million to nursing homes in Palm Beach County, property records show.
Called Pine Trail Nursing and Rehab CenterThe 59,760 square foot facility features 93 beds in the 4445 Pine Forest Drive in Greenacres, Fla., adjacent to South Military Trail. The Pine Trail facility was built in 1988 on an 8.7-acre property.
Assets were last traded for $3.5 million in 2004. Bound entities KC CrossCEO of the Oakland Park base Development of Mountaineersbecome a seller in the new sale.
Deeds filed with Palm Beach County may include real estate valuation only. The total price may be higher to include the nursing home’s operating business and furniture.
Pinnacle Bankwhich is combined with Synovus Bank in January, provided $ 150 million loan acquisition, serving as an administrator for a group of creditors. That debt supported another recent acquisition: the $16.6 million purchase of 20,758 square feet. Westlake Nursing and Rehab Center in Dania Beach, Fla., earlier this month.
Investors have been buying senior housing assets in Palm Beach County as Florida’s senior population is expected to grow 5.4 percent annually through 2031, and occupancy for these properties remains at about 90 percent in the second quarter of 2026, according to a report of Colliers.
In August, Artemis Real Estate Partners purchased A relatively new assisted living facility in Delray Beach for at least $140 million PGIM Real Estate. this month, Robbins Property Associates purchased New residential community for residents 55 years and older in West Delray Beach for almost $ 30 million.
Representatives for Mountaineer Development and Tordjman Equities did not immediately respond to requests for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.