{"id":372450,"date":"2026-10-13T23:40:15","date_gmt":"2026-10-13T23:40:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/372450\/"},"modified":"2026-10-13T23:40:15","modified_gmt":"2026-10-13T23:40:15","slug":"new-york-investor-buys-palm-beach-county-nursing-home-for-at-least-24m-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/372450\/","title":{"rendered":"New York Investor Buys Palm Beach County Nursing Home for At Least $24M \u2013 Commercial Observer"},"content":{"rendered":"<p><a href=\"https:\/\/commercialobserver.com\/company\/tordjman-equities\/\" title=\"Tordjman Equities\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Tordjman Equities<\/a> has paid at least $23.8 million for a nursing home in Palm Beach County, property records show.<\/p>\n<p>Called Pine Trail Nursing and Rehab Center, the 59,760-square-foot facility features 93 beds at 4445 Pine Forest Drive in Greenacres, Fla., adjacent to South Military Trail. The Pine Trail facility was built in 1988 on an 8.7-acre property.<\/p>\n<p>SEE ALSO: <a href=\"https:\/\/commercialobserver.com\/2026\/10\/city-national-bank-of-florida-coral-gables-baptist-health\/\" rel=\"nofollow noopener\" target=\"_blank\">City National Bank of Florida Sells Former HQ in Coral Gables After Moving Out<\/a><\/p>\n<p>The asset last traded for $3.5 million in 2004. An entity tied to K.C. Kross, the CEO of Oakland Park-based <a href=\"https:\/\/commercialobserver.com\/company\/mountaineer-development\/\" title=\"Mountaineer Development\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Mountaineer Development<\/a>, served as the seller in the recent sale.\u00a0<\/p>\n<p>The deed filed to Palm Beach County likely includes the value of only the real estate. The total price is probably higher to include the nursing home\u2019s operating business and furniture.\u00a0<\/p>\n<p><a href=\"https:\/\/commercialobserver.com\/company\/pinnacle-bank\/\" title=\"Pinnacle Bank\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Pinnacle Bank<\/a>, which merged with <a href=\"https:\/\/commercialobserver.com\/company\/synovus-bank\/\" title=\"Synovus Bank\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Synovus Bank<\/a> in January, supplied a $150 million acquisition loan, serving as an administrator for a group of lenders. The debt backs another recent acquisition: the $16.6 million purchase of the 20,758-square-foot Westlake Nursing and Rehab Center in Dania Beach, Fla., earlier this month.<\/p>\n<p>Investors have been buying up senior housing assets across Palm Beach County as Florida\u2019s senior population is projected to grow by 5.4 percent annually until 2031, and occupancy for those properties held steady at about 90 percent in the second quarter of 2026, according to a <a target=\"_blank\" rel=\"noopener nofollow\" href=\"https:\/\/www.colliers.com\/en\/research\/miami\/fl-seniors-housing-report-26q2\">report<\/a> from Colliers.\u00a0<\/p>\n<p>In August, Artemis Real Estate Partners <a href=\"https:\/\/commercialobserver.com\/2026\/08\/pgim-arbor-at-delray-beach-artemis\/\" rel=\"nofollow noopener\" target=\"_blank\">purchased<\/a> a relatively new assisted living facility in Delray Beach for at least $140 million from PGIM Real Estate. This month, Robbins Property Associates <a href=\"https:\/\/commercialobserver.com\/2026\/10\/13th-floor-delray-solera-at-avalon-trails-robbins-property-associates\/\" rel=\"nofollow noopener\" target=\"_blank\">purchased<\/a> a new housing community for residents 55 years and older in West Delray Beach for nearly $30 million.<\/p>\n<p>Representatives for Mountaineer Development and Tordjman Equities did not immediately respond to a request for comment.<\/p>\n<p>Julia Echikson can be reached at <a href=\"https:\/\/commercialobserver.com\/2026\/10\/tordjman-equities-pine-trail-nursing-and-rehab-center-palm-beach-county-nursing-home\/mailto:jechikson@commercialobserver.com\" rel=\"nofollow noopener\" target=\"_blank\">jechikson@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Tordjman Equities has paid at least $23.8 million for a nursing home in Palm Beach County, property records&hellip;\n","protected":false},"author":2,"featured_media":372451,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[137145,3624,2664,137146,9,24,55,54,56,137147],"class_list":["post-372450","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-4445-pine-forest-drive","tag-channel","tag-investments-sales","tag-k-c-kross","tag-new-york","tag-new-york-city","tag-new-york-city-headlines","tag-new-york-city-news","tag-ny","tag-pine-trail-nursing-and-rehab-center"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/372450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=372450"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/372450\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/372451"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=372450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=372450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=372450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}