Wyndham Lakes Senior Living, a 245-unit senior living community at 10660 Old St. Augustine Road in Mandarin, sold Aug. 6 for $30.94 million.
Wyndham Lakes offers independent living, assisted living, memory care and respite care.
Built in 1986, the community has changed ownership four times since 1991, most recently in 2016 for $19.35 million, according to Duval County sales records.
The buyer, 10660 Old St. Augustine LLC, registered at the property’s address, purchased the community from Pacifica Augustine Road LLC, an entity registered at Pacifica Cos.’ San Diego headquarters.
Records filed with the Florida Division of Corporations show the buyer entity’s sole authorized member as Stagecoach Capital Wyndham Lakes LLC, managed by Stagecoach Capital LLC, based in Rochester, Michigan. The company has established a marketing site for potential investors at stagecoachwyndhamlakes.com.
Pacifica Augustine Road LLC purchased the property in October 2016 for $19.35 million from S-H Thirty-Five Propco – Wyndham Lakes LLC, a Delaware company that was successor to CSH-ID Wyndham Lakes LP, according to the recorded deed. The Aug. 6 sale price represents a roughly 60% increase over the 2016 purchase price, or about $126,300 per unit compared with roughly $79,000 per unit in 2016.
More senior living sales
The Wyndham Lakes acquisition adds to other recent senior living transactions in Northeast Florida.
Denver-based Healthpeak Properties Inc., a healthcare-focused real estate investment trust, bought Allegro Senior Living Fleming Island in Clay County for $38 million this month, days after acquiring Allegro Senior Living St. Augustine for $54 million. Both communities, each 102,786 square feet, offer independent living, assisted living and memory care.
Those acquisitions are unrelated to the Wyndham Lakes deal.