Two assisted living facilities in Broward County has been acquired by an affiliate of Brooklyn-based TL Management for a combined $14.7 million. The first purchase was for the 120-bed Plaza at Pembroke Park for $7.4 million. Located at 3535 SW 52nd Avenue in Pembroke Park, the 61,565 sqf facility was built on a 2.2-acre site in 1988 and last traded for $8.08 million in 2013. TL paid $7.28 million for Emerald Park, a 100 bed center that totals 58,249 sqf and was built on its 2.8-acre site in 1998. Located at 5770 Stirling Road in Hollywood, the asset last changed hands for $8.08 million in 2013. The sale was completed with a $12.2 million mortgage provided by Tthe PrivateBank and Trust. Fortress Investment Group was the seller.
