THE BLAKE AT GULF BREEZE SELLS FOR $24M

GULF BREEZE, FLA. — The 107-unit The Blake at Gulf Breeze, an assisted living and memory care community located at 4410 Gulf Breeze Pkwy. in Gulf Breeze, has been sold for $24 million. The property, which includes 70 assisted living units and 37 memory care units, is currently 95 percent leased. Ryan Maconachy and Chad Lavender of ARA's Boca Raton, Fla., office represented the seller, Twin Palms, in the transaction. The buyer was AEW Capital Management, which acquired the property on behalf of AEW Senior Housing Investors. Blake Management Group, the original developer, will operate the property.