Senior Living Community Features Multiple Income Streams and a 9.2% Cap Rate

Colliers International is pleased to announce the availability of “The Woodlands” a compelling new multifamily investment opportunity along Maryland’s Eastern Shore.

The Woodlands (located at 1135 Ocean Parkway, Ocean Pines, MD) is a three-building, 55+ senior living community on 6.3 acres within the greater resort community of Ocean Pines and enjoys access to its rich amenities: an 18-hole golf course, two marinas, five swimming pools, a yacht club, country club, tennis club, hiking trails and beach access. Historic occupancy at The Woodlands has been exceptionally high at 97% and the overall resort is well maintained and perennially desirable. 

The opportunity now coming to market for investors is priced for sale at $4,950,000 and consists of 35 condominium units within the community (representing 67% of the entire community). These 35 condos produce gross income of $852,000 annually and offer the added stability of being comprised of two separate income streams. The cap rate is a very attractive 9.2% and NOI is $459,000.

Today, nationally, there are 51 million people over the age of 65 and only 4.6 million beds. With significant growth projected in the next 35 years there is currently a demand that cannot be met within the seniors sector. This opportunity presents itself during a favorable time for investors and operators, as the seniors housing industry and the highly desirable area of Ocean Pines are both significantly underserved.

About Colliers International

Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is an industry-leading real estate services company with a global brand operating in 69 countries and a workforce of more than 15,400 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

Regionally, Colliers International has served clients in the Philadelphia area since 1920 and comprises six offices in Eastern Pennsylvania, Southern New Jersey, and Delaware. For the latest news from Colliers International, visit colliers.com/philadelphia, or follow us on Twitter: @ColliersPhilly