Discovery Village at Sarasota Bay sold

Discovery Village at Sarasota Bay sold

MANATEE COUNTY — An assisted-living facility that opened six months ago has been sold for $35 million.

A company tied to a giant private equity firm bought Discovery Village at Sarasota Bay, a 126-unit facility just north of Sarasota-Bradenton International Airport, according to county records.

Discovery Village, 1414 69th Ave. W., is one of nearly a dozen assisted living facilities that have opened in the Sarasota-Manatee region since January 2015. It includes 30 supervised independent living units, 66 assisted living units and 30 memory care units.

The buyer is affiliated with the real estate arm of private equity firm Kayne Anderson Capital Advisors LP of Boca Raton, a $20 billion investment management firm. Its real estate unit focuses on investing in student housing, senior housing and medical facilities.

It financed the purchase with a $24.5 million loan from Synovus Bank, records show.

Bonita Springs-based Discovery Senior Living opened the 6.6-acre community in February, using sleek designs, high-end finishes and resort-style amenities to attract residents. It was one of six senior communities it owns in Florida, with others in Georgia, South Carolina and Texas.

Skilled nursing center sold

Separately, a private investment management firm has acquired the Bradenton Health Care skilled nursing center for $14.68 million.

An affiliate of Formation Capital of Atlanta bought the 105-bed facility at 6305 Cortez Road W that is operated by Consulate Health Care.

The property had been owned by Diamond Senior Living LLC, a subsidiary of General Electric Credit Corp., which is owned by GE Capital US Holdings. The property was transferred to a Formation Capital entity named FC Encore Core Properties LLC earlier this year.

Formation Capital invests primarily in senior housing and health care related real estate.

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