New York Investor Acquires Greenacres Nursing Home for $23.8 Million

Tordjman Equities, a New York-based investor, recently acquired the Pine Trail Nursing and Rehab Center in Greenacres, Florida, for a reported $23.8 million. The transaction, which likely covers only the real estate, involves a 59,760-square-foot facility with 93 beds located at 4445 Pine Forest Drive. Built in 1988 on an 8.7-acre parcel, the property last traded in 2004 for $3.5 million. The seller was an entity associated with K.C. Kross of Mountaineer Development.

The acquisition was supported by a $150 million loan from Pinnacle Bank, which recently merged with Synovus Bank. This financing also backed the earlier $16.6 million purchase of the Westlake Nursing and Rehab Center in Dania Beach. The deal highlights a broader trend of investors targeting senior housing assets in Palm Beach County, driven by Florida's projected 5.4 percent annual senior population growth through 2031 and consistent occupancy rates around 90 percent. This sustained demand makes senior living facilities an attractive investment for developers and lenders in the region.