Wyndham Lakes Senior Living on Old St. Augustine Road sold Aug. 6 for $30.94 million, a roughly 60% jump from its last sale price a decade ago and part of a wave of senior housing investment sweeping Northeast Florida.

The 245-unit community at 10660 Old St. Augustine Road, which offers independent living, assisted living, memory care and respite care, was purchased by an entity tied to Stagecoach Capital LLC, a Rochester, Michigan-based firm, according to the Jacksonville Daily Record. The sale works out to about $126,300 per unit.

The seller, Pacifica Augustine Road LLC, registered at San Diego-based Pacifica Cos.' headquarters, bought the property in October 2016 for $19.35 million, or roughly $79,000 per unit, according to Duval County sales records.

Built in 1986, the community has changed ownership four times since 1991, with this sale being the fifth.

Who's behind the buying entity

The buying entity, 10660 Old St. Augustine LLC, is registered at the property's address. Florida Division of Corporations records show its sole authorized member is Stagecoach Capital Wyndham Lakes LLC, managed by Stagecoach Capital. The company has launched a password-gated investor marketing website for the property, suggesting the acquisition is structured to attract outside capital.

Licensing status shows facility "in litigation"

Florida Agency for Health Care Administration (AHCA) records list the facility's license status as "in litigation." The nature of that litigation is not specified in public AHCA records. The state database still shows Pacifica Augustine Road LLC as the owner/licensee, indicating the ownership transfer has not yet been reflected in licensing records. The facility has 258 licensed beds and is managed by a separate entity, Wyndham Lakes MGR LLC, which took over management Nov. 1, 2024.

AHCA records also show the facility was fined $15,000 on Dec. 16, 2024, for a survey violation initiated Sept. 30, 2024. Prior fines dating to 2007 total an additional $12,500, though the agency notes some may have been issued to previous owners.

Administrator Danielle Ashby and financial officer Deepak Israni are listed in state records as the facility's current leadership. Stagecoach Capital and facility management could not be reached for comment on what the ownership change means for current residents and staff.

Part of a broader senior housing buying spree

The Wyndham Lakes deal fits a broader pattern. Denver-based Healthpeak Properties Inc. bought Allegro Senior Living Fleming Island in Clay County for $38 million in August, days after acquiring Allegro Senior Living St. Augustine for $54 million, the Daily Record reported. Those transactions are unrelated to the Wyndham Lakes sale.

No public timeline for a change-of-ownership application with AHCA has been announced. Residents and families can reach the facility at 904-262-4600.