PrivCap Sells Margate, Davie Assisted Living Facilities

PrivCap Companies sold a pair of assisted living facilities in Broward County for a combined $12.7 million.

The Boca Raton-based investment firm sold the properties at 6810 Southwest Seventh Street in Margate and at 4681 Southwest 66th Avenue in Davie to entities led by Zalman Skoblo and Zvi Jacobowitz of Brooklyn, according to records.

John DeMarco and Wesley Suskind of The DeMarco Real Estate Group at RE/MAX represented the seller.

The deal for the 131-bed portfolio breaks down to $97,000 per bed.

Both properties are under the Caring Village brand and offer memory care services, according to their websites.

PrivCap, led by Donny Cohen, has a portfolio that includes multifamily and office buildings in the Southeast, as well as some properties in New Jersey and Kentucky, according to its website.

In South Florida, the firm has wagered on assisted living facilities, a healthy asset class in light of the state’s reputation as a retirement mecca. PrivCap paid $7 million for the Caring Village facility in Margate in 2020.

Last year, PrivCap also dropped $9.7 million for the Midtown Manor assisted living facility at 2001 Polk Street in Hollywood.

Other investors eyeing facilities for senior residents include Bent Philipson, who has focused on nursing homes. In November, he and Andrew Bronfeld bought the Signature HealthCare Center of Waterford at 8333 West Okeechobee Road in Hialeah Gardens for $43.2 million.

Contact Lidia Dinkova