Emerald Group and Infinite Care have acquired two senior rehabilitation centers in South Florida for a total of $29 million. The purchase includes the Tamarac Rehabilitation and Health Center, located at 7901 Northwest 88th Avenue in Tamarac, which was bought for $18.9 million. This property features a 120-bed, one-story building spanning 38,200 square feet on a 3.8-acre site and was completed in 1979.
The second facility is the Pinecrest Rehabilitation Center at 13650 Northeast Third Court in North Miami. It consists of a 100-bed, one-story building covering 30,400 square feet on a 2.4-acre site, built in 1967.
Both properties were sold by Fort Lauderdale-based NuVision Management, a consultancy specializing in long-term care and rehabilitative services for geriatric and pediatric patients. According to public records and Vizzda, both purchases were made by entities led by Lakewood, New Jersey investor Yisroel Herzka and are tied to Emerald Group and New York-based Infinite Care.
The buyers secured a $46.6 million loan from Valley Bank that is cross-collateralized across these two properties as well as other facilities owned by Emerald Group and Infinite Care.
Tamarac Rehabilitation provides skilled nursing and rehabilitation services primarily for patients recovering from strokes or broken bones. Pinecrest Rehabilitation offers post-hospital care along with skilled nursing and rehabilitation services for various conditions such as pneumonia, heart issues, bone fractures, joint replacements, strokes, Parkinson’s disease, and cancer-related diagnoses.
Senior care facilities in South Florida continue to see periodic transactions due to their relative resilience against economic challenges like high interest rates and inflation. The ongoing demand is partly attributed to Florida’s status as a popular destination for retirees.
Other recent transactions in the region include Welltower’s acquisition of Oakmonte Village of Davie—a 220-bed assisted and independent living facility—for $34.3 million; Garden Healthcare’s purchase of Eastridge at Cutler Bay—a property offering several types of senior care—for $24 million; and Leo Friedman’s acquisition of Abbey Delray senior living facility for $30 million.
