Kayne Anderson Capital Advisors purchased The Watermark at Trinity, a 97-unit assisted living and memory care community in Tampa, for $13.8m. The seller was a joint venture between Gulf Coastal Development, Rookis Development and Watermark Retirement Communities. The two year old facility features 67 assisted living and 30 memory care units. Totaling 84,217 sq ft, the the three-story building has an average occupancy rate of more than 95 percent. Cushman & Wakefield represented the seller. “The existing operator, Watermark Retirement Communities, will remain in place with the new owner, which was one of several key drivers of value during a highly competitive marketing process,” said Paul Carr, senior director at C&W.
