Dunedin senior living facility sells to Arizona investor
By Breanne Williams
Tampa Bay Business Journal
Published: Sep 19, 2022

An assisted living facility in Dunedin has sold in a $26.5 million deal to Arizona-based Inspired Healthcare Capital.

The sale of Grand Villa of Dunedin at 880 Patricia Ave. closed on Sept. 14, according to a Pinellas County deed. The seller was VS Dunedin LLC, an entity linked to Michigan-based private equity investment firm ValStone Partners. The senior living facility offers assisted living, memory care, respite care and a senior day program.

The facility has 120 units, according to the Pinellas County property appraiser, and the price per unit breaks down to $220,833. It was built in 1987.

Inspired Healthcare Capital secured a $15.7 million loan from Lakeland Bank, according to county records. The company manages senior living communities throughout the country, including Georgia, Illinois, Michigan and Oregon. The company’s website said it manages assets valued at more than $900 million nationwide.

The apartments range from studios to one-bedroom units and have private bathrooms.

The property was last sold to ValStone Partners in 2015 for $4.1 million, according to a deed filed in Pinellas County. The Grand Villa of Dunedin is just over a mile from downtown Dunedin.