Tordjman Equities Buys Greenacres Nursing Home for $23.8M+
A 93-bed Greenacres nursing home traded for at least $23.8M, up from $3.5M in 2004, per Commercial Observer. The buyer is a New York investor.
New York investor Tordjman Equities has bought Pine Trail Nursing and Rehab Center, a 93-bed facility at 4445 Pine Forest Drive in Greenacres, Palm Beach County. Commercial Observer reported the price at no less than $23.8 million, drawn from property records.
Why it matters
The seller is an entity tied to K.C. Kross, CEO of Oakland Park-based Mountaineer Development, according to the same report. That makes this a developer exit as much as a healthcare trade.
It is also the second South Florida nursing home Tordjman has been linked to in recent weeks. The report ties the buyer’s debt to the $16.6 million purchase of Westlake Nursing and Rehab Center in Dania Beach. Our South Florida desk tracks that pattern: one buyer assembling a regional care portfolio.
The numbers
Commercial Observer put the price at at least $23.8 million, and noted the deed likely reflects only the real estate. The total could run higher once the operating business and furnishings are counted. We have not independently pulled the deed, so treat the figure as the outlet’s.
The property is 59,760 square feet on an 8.7-acre site, built in 1988. It last traded for $3.5 million in 2004, per the report. Against that, the new price is roughly 6.8 times the earlier one, a gain of about $20.3 million on the land and building over 22 years. That is our arithmetic on the outlet’s two figures, before any capital spending or operating income during the hold.
Financing came from Pinnacle Bank, which merged with Synovus Bank in January. The report says it acted as administrator for a lender group on a $150 million acquisition loan, which it linked to the Westlake deal as well.
Market backdrop, per Colliers figures cited in the report: Florida’s senior population is projected to grow 5.4 percent a year through 2031, and senior housing occupancy held near 90 percent in the second quarter of 2026.
What’s next
The Palm Beach County deed and the Property Appraiser sales history are the records that would confirm the price, parcel and recording date. Both are queued for our next records pull, and we will update if the deed shows a different figure.
Representatives for Mountaineer Development and Tordjman Equities did not immediately respond to Commercial Observer. Watch for whether the same $150 million facility funds more Florida acquisitions, and for a licensing change filing with the state.
On the record
Primary record