The Barrington

The Barrington
Senior Living Near Tampa Bay, FL

Investor Tours/Dates:  Please Contact the IPA team to schedule a tour of the Property  

September 24 & 25, October 1 & 2 , October 8 & 9

INVESTMENT HIGHLIGHTS

• The Barrington is a community totaling 149-units (65-IL & 84-AL) and located in Largo, FL
• Within the past 12 months, the property has received nearly $1.0M in improvements
• Over the June 2019 Year-to-Date financial period, the Property averaged 96% occupancy, with an annualized EBITDAR exceeding $1.383M
• Institutional Property Advisors projects,  through  improved  cost  savings,  The  Barrington  will  generate  over  $1.9M  in  EBITDAR
   

THE OFFERING

Institutional Property Advisors, in conjunction with RealINSIGHT Marketplace, is pleased to offer the opportunity to acquire The Barrington, a 96% occupied, 149-unit independent and assisted living facility in Largo, Florida (the “Property”). The facility contains 65 independent living units and 84 assisted living units.

The Property comprises one building on 10.23 acres of land. The building was constructed in 1986 and has since been renovated, the most recent improvements occurring within the past 12 months. The Barrington houses many amenities for residents including a dining hall with freshly prepared meals, fitness center, arts and crafts room, game room, beauty salon, library, heated year-round pool, rehabilitation center, as well as various other programs and classes.

The Property is located in the ideal retirement community of Largo, Florida, approximately 15 miles from Tampa. Pinellas County reports 26.1% of the population is over 65 years old, well above the state of Florida average of 20% and national average of 16%. Additionally, the 65-plus population within a five-mile radius of the property is expected to increase by 13.1% through 2023.