Tordjman Equities, a New York investor, has acquired a nursing home in Palm Beach County, Florida, for at least $23.8 million. This is according to available property records. The transaction concerns the Pine Trail Nursing and Rehab Centre in Greenacres.
The facility in question, located at 4445 Pine Forest Drive in Greenacres, Florida, covers an area of 59,760 square feet and has 93 beds. It is situated adjacent to South Military Trail. The Pine Trail centre was built in 1988 on an 8.7-acre plot.
Background to the Acquisition
The seller of the property was a company affiliated with K.C. Kross, CEO of Oakland Park-based Mountaineer Development. The property was last traded in 2004 for $3.5 million. The deed filed in Palm Beach County likely refers only to the value of the real estate. It is presumed that the total price is higher, as it additionally includes the operating business and equipment of the nursing home.
The acquisition was financed by Pinnacle Bank, which merged with Synovus Bank in January. Pinnacle Bank provided a $150 million loan and acted as administrator for a consortium of lenders. This loan also secures another recent acquisition: the purchase of the 20,758 square foot Westlake Nursing and Rehab Centre in Dania Beach, Florida, for $16.6 million, which took place earlier this month.
Growing Market for Senior Living Properties
Investors continue to show strong interest in senior living properties across Palm Beach County. A report by Colliers forecasts annual growth of Florida's senior population by 5.4 percent until 2031. Occupancy rates for these properties remained stable at around 90 percent in the second quarter of 2026.
This development is underpinned by further transactions in the region. In August, Artemis Real Estate Partners acquired a relatively new assisted living facility in Delray Beach for at least $140 million from PGIM Real Estate. Furthermore, Robbins Property Associates purchased a new 55-plus active adult community in West Delray Beach for nearly $30 million this month.
