Emerald Group and Infinite Care have acquired two senior rehabilitation centers in South Florida for a total of $29 million. The transaction includes the Tamarac Rehabilitation and Health Center, a 120-bed facility located at 7901 Northwest 88th Avenue in Tamarac, and the Pinecrest Rehabilitation Center, a 100-bed facility at 13650 Northeast Third Court in North Miami.
Both purchases were made by entities led by Yisroel Herzka, an investor based in Lakewood, New Jersey, with ties to both Emerald and Infinite Care. According to public records and real estate database Vizzda, the Tamarac property was bought for $18.9 million. The building spans 38,200 square feet on a 3.8-acre site and was completed in 1979. The Pinecrest facility is a one-story building of 30,400 square feet on a 2.4-acre lot that was completed in 1967.
The seller of both properties is NuVision Management, a Fort Lauderdale-based consultancy specializing in long-term care and rehabilitative services for geriatric and pediatric patients.
Financing for the acquisitions came through a $46.6 million loan from Valley Bank. This loan is cross-collateralized across the newly purchased North Miami and Tamarac properties as well as other assets owned by Emerald and Infinite Care.
Tamarac Rehabilitation provides skilled nursing and rehabilitation services for patients recovering from strokes or bone fractures. Pinecrest Rehabilitation offers post-hospital care along with skilled nursing and rehabilitation services for conditions such as pneumonia, heart disease, bone fractures, joint replacement surgery, strokes, Parkinson’s disease, and cancer-related diagnoses.
The market for senior care facilities in South Florida has seen sporadic activity but remains relatively stable despite broader economic pressures like high interest rates and inflation. This resilience is attributed to Florida’s popularity among retirees which supports ongoing demand for assisted living, memory care, skilled nursing, and rehabilitation centers.
Recent transactions in the sector include Welltower’s purchase of Oakmonte Village of Davie—a 220-bed assisted and independent living facility—for $34.3 million; Garden Healthcare’s acquisition of Eastridge at Cutler Bay—a property offering multiple levels of senior care—for $24 million; and Leo Friedman’s purchase of Abbey Delray senior living facility for $30 million.
