Blackstone Sells Aventura Facility: Blackstone Sells Aventura Senior Living Facility for $12M, 75% Below Original Price

What Does This Sale Mean for Miami's Real Estate Market?

Blackstone has sold its Aventura senior living facility to a joint venture for million, a 75% discount from the original price of .9 million in 2017.

Blackstone Sells Aventura Facility helps improve planning, consistency, and publishing quality when teams follow a repeatable workflow.

Aventura-based BH Group, led by Isaac and Liat Toledano, and Fort Lauderdale-based Gold Standard of Care bought Sterling Aventura at 2777 Northeast 183rd Street in Aventura for $12 million, a source close to the transaction told The Real Deal. New Wave Loans provided financing for the buyers. 

The joint venture paid 75 percent below the previous sale price eight years ago. 

Blackstone, led by Stephen Schwarzman, bought the property for $48.9 million in 2017, records show. At the time, the purchase was part of a $154.7 million portfolio deal that included three other assisted living facilities in Boca Raton, Jupiter and Hollywood. 

Sitting on a 1.8-acre site, Sterling Aventura is an eight-story project with 171 units completed in 2001, records show. The property is part of a larger nationwide sell-off of senior living facilities with 9,000 units that has saddled Blackstone with more than $600 million in losses, The Wall Street Journal reported. 

In March, Blackstone entered into a loan modification agreement with Wilmington Trust, as trustee for Wells Fargo, for a $35 million loan that Blackstone had taken out on the senior living facility in 2017, records show. 

In September, Blackstone paid nearly $300 million for the East Miami hotel in Miami’s Brickell neighborhood. 

Founded in 2008, Gold Standard of Care has more than $150 million in real estate assets entailing 1,185 senior living units spanning two million square feet, according to the company’s website. 

BH is among the most active real estate development and investment firms in South Florida. Recently, the city of Fort Lauderdale approved plans by BH and its partners, Coconut Grove-based Related Group and Boca Raton-based Pebb Enterprises, to redevelop The Quay at 17th Street, a waterfront retail and office plaza with a six-yacht marina into a Live Local Act multifamily project. 

The joint venture is planning The Quay, a 33-story project with 521 apartments along with 5,000 square feet of commercial space and more than 750 parking spaces. The developers are setting aside 217 units for affordable and workforce housing, 

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var(–wp–preset–gradient–midnight) !important;}.has-small-font-size{font-size: var(–wp–preset–font-size–small) !important;}.has-medium-font-size{font-size: var(–wp–preset–font-size–medium) !important;}.has-large-font-size{font-size: var(–wp–preset–font-size–large) !important;}.has-x-large-font-size{font-size: var(–wp–preset–font-size–x-large) !important;}”,”type”:”list”,”__typename”:”StyleItem”}],”post”:{“id”:”cG9zdDo5OTk1MzU=”,”databaseId”:999535,”title”:”Blackstone offloads Aventura senior living facility at $37M loss”,”status”:”publish”,”slug”:”blackstone-sells-aventura-facility-for-loss”,”uri”:”/miami/2025/11/07/blackstone-sells-aventura-facility-for-loss/”,”link”:”https://therealdeal.com/miami/2025/11/07/blackstone-sells-aventura-facility-for-loss/”,”dateGmt”:”2025-11-07T22:30:00″,”contentTypeName”:”post”,”contentFiltered”:”u003cpu003eBlackstone held a fire sale on an Aventura senior living facility, selling the site for a $36.5 million discount.u003c/pu003enu003cpu003eAventura-based u003ca href=”/miami/2025/02/07/bh-pays-83m-for-north-bay-village-multifamily-project/”u003eBH Groupu003c/au003e, led by Isaac and Liat Toledano, and Fort Lauderdale-based Gold Standard of Care bought Sterling Aventura at 2777 Northeast 183rd Street in Aventura for $12 million, a source close to the transaction told u003cemu003eThe Real Dealu003c/emu003e. New Wave Loans provided financing for the buyers.u0026nbsp;u003c/pu003enu003cpu003eThe joint venture paid 75 percent below the previous sale price eight years ago.u0026nbsp;u003c/pu003enu003cpu003eBlackstone, led by Stephen Schwarzman, bought the property for $48.9 million in 2017, records show. At the time, the purchase was part of a u003ca href=”/miami/2017/03/14/blackstone-buys-senior-living-properties-in-south-florida-for-155m/”u003e$154.7 millionu003c/au003e portfolio deal that included three other assisted living facilities in Boca Raton, Jupiter and Hollywood.u0026nbsp;u003c/pu003enu003cpu003eSitting on a 1.8-acre site, Sterling Aventura is an eight-story project with 171 units completed in 2001, records show. The property is part of a larger nationwide sell-off of senior living facilities with 9,000 units that has saddled Blackstone with more than $600 million in losses, u003ca href=”https://www.wsj.com/real-estate/blackstone-is-offloading-a-flopped-1-8-billion-investment-in-senior-housing-4a7b85d9?gaa_at=eafsu0026amp;gaa_n=AWEtsqd9GL0-1N4EjuuzcE9Z8tTbXpxJPF4zd6NY-RB88w5qLT_kknuVJzhkLzyZpfY%3Du0026amp;gaa_ts=690e4181u0026amp;gaa_sig=aJb-5E_6dqY6_Nqwdf_16f3a8qPmwKONIDJBCom2SNTBjPFFYvYpnbQ4J9c9tgKSsjrdOiHDaJVwBPnBJ1FDyA%3D%3D”u003eThe Wall Street Journalu003c/au003e reported.u0026nbsp;u003c/pu003enu003cpu003eIn March, Blackstone entered into a loan modification agreement with Wilmington Trust, as trustee for Wells Fargo, for a $35 million loan that Blackstone had taken out on the senior living facility in 2017, records show.u0026nbsp;u003c/pu003enu003cpu003eIn September, Blackstone paid nearly u003ca href=”/miami/2025/09/15/revealed-blackstone-pays-148m-for-brickells-east-miami/”u003e$300 millionu003c/au003e for the East Miami hotel in Miami’s Brickell neighborhood.u0026nbsp;u003c/pu003enu003cpu003eFounded in 2008, Gold Standard of Care has more than $150 million in real estate assets entailing 1,185 senior living units spanning two million square feet, according to the company’s website.u0026nbsp;u003c/pu003enu003cpu003eu003ca href=”/miami/2025/07/01/related-group-dezer-bh-close-sunny-isles-buyout-plan-tower/”u003eBHu003c/au003e is among the most active real estate development and investment firms in South Florida. Recently, the city of Fort Lauderdale approved plans by BH and its partners, Coconut Grove-based Related Group and Boca Raton-based Pebb Enterprises, to redevelop u003ca href=”/miami/2025/10/20/fort-lauderdale-approves-waterfront-project/”u003eThe Quay at 17th Streetu003c/au003e, a waterfront retail and office plaza with a six-yacht marina into a Live Local Act multifamily project.u0026nbsp;u003c/pu003enu003cpu003eThe joint venture is planning The Quay, a 33-story project with 521 apartments along with 5,000 square feet of commercial space and more than 750 parking spaces. The developers are setting aside 217 units for affordable and workforce housing,u0026nbsp;u003c/pu003en”,”noAds”:false,”alternativeHeadline”:{“subheadline”:”BH Group and Gold Standard of Care paid $12M for property”,”__typename”:”AlternativeHeadline”},”updatedPost”:{“updated”:false,”date”:”2025-11-07T22:42:00+00:00″,”__typename”:”UpdatedPost”},”aiSummary”:{“summary”:”u003culu003ernu003cli style=”font-weight: 400;” aria-level=”1″u003eu003cspan style=”font-weight: 400;”u003eBlackstone sold the Sterling Aventura senior living facility for $12 million to a joint venture of BH Group and Gold Standard of Care, resulting in a loss of about $36.9 million from its $48.9 million purchase price in 2017.u003c/spanu003eu003c/liu003ernu003cli style=”font-weight: 400;” aria-level=”1″u003eu003cspan style=”font-weight: 400;”u003eThe sale price represents a 75 percent reduction from Blackstone’s purchase price for the property eight years ago.u003c/spanu003eu003c/liu003ernu003cli style=”font-weight: 400;” aria-level=”1″u003eu003cspan style=”font-weight: 400;”u003eThis deal is part of a larger nationwide sell-off of senior living facilities by Blackstone, which has led to more than $600 million in losses for the investment giant across a portfolio of 9,000 units.u003c/spanu003eu003c/liu003ernu003c/ulu003e”,”reviewed”:true,”disabled”:false,”autoGenerate”:false,”__typename”:”AISummary”},”audioArticleSettings”:{“audioUrl”:”https://eleven-public-cdn.elevenlabs.io/audio-native/a24c95b71e45d877e2798ceb32ef0ff8b1d79dced18bffc58f5b3a0c6e8468ac/Wb24eO7iOUeQVafiZ3a5/Wb24eO7iOUeQVafiZ3a5.mp3″,”__typename”:”AudioArticleSettings”},”mainArt”:{“mediaType”:”image”,”image”:{“node”:{“sourceUrl”:”/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–1400×933.jpg”,”srcSet”:”/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–1400×933.jpg 1400w, /wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–300×200.jpg 300w, /wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–700×467.jpg 700w, /wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–200×133.jpg 200w, /wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–768×512.jpg 768w, /wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–1024×683.jpg 1024w, /wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–50×33.jpg 50w, /wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss-.jpg 1500w”,”sizes”:”(max-width: 1400px) 100vw, 1400px”,”caption”:”u003cpu003eBlackstone u0026#8216;s Stephen Schwarzman, BH Group’s Isaac and Liat Toledano and Sterling Aventura at 2777u0026#8230;u003c/pu003en”,”altText”:”Blackstone ‘s Stephen Schwarzman, BH Group’s Isaac and Liat Toledano and Sterling Aventura at 2777 Northeast 183rd Street”,”__typename”:”MediaItem”},”__typename”:”AcfMediaItemConnectionEdge”},”video”:null,”caption”:”Blackstone ‘s Stephen Schwarzman, BH Group’s Isaac and Liat Toledano and Sterling Aventura at 2777 Northeast 183rd Street (Getty, Google Maps)”,”__typename”:”MainArt”},”featuredImage”:{“node”:{“sourceUrl”:”https://static.therealdeal.com/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–1400×933.jpg”,”srcSet”:”https://static.therealdeal.com/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–1400×933.jpg 1400w, https://static.therealdeal.com/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–300×200.jpg 300w, https://static.therealdeal.com/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–700×467.jpg 700w, https://static.therealdeal.com/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–200×133.jpg 200w, https://static.therealdeal.com/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–768×512.jpg 768w, https://static.therealdeal.com/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–1024×683.jpg 1024w, https://static.therealdeal.com/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–50×33.jpg 50w, https://static.therealdeal.com/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss-.jpg 1500w”,”sizes”:”(max-width: 1400px) 100vw, 1400px”,”caption”:”u003cpu003eBlackstone u0026#8216;s Stephen Schwarzman, BH Group’s Isaac and Liat Toledano and Sterling Aventura at 2777u0026#8230;u003c/pu003en”,”altText”:”Blackstone ‘s Stephen Schwarzman, BH Group’s Isaac and Liat Toledano and Sterling Aventura at 2777 Northeast 183rd Street”,”mediaDetails”:{“sizes”:[{“width”:”1400″,”height”:”933″,”__typename”:”MediaSize”}],”__typename”:”MediaDetails”},”__typename”:”MediaItem”},”__typename”:”NodeWithFeaturedImageToMediaItemConnectionEdge”},”__typename”:”Post”,”template”:{“templateValue”:”right-rail”,”__typename”:”DefaultTemplate”},”seo”:{“title”:”Blackstone Sells Aventura Facility For Loss”,”fullHead”:”u003c!– This site is optimized with the Yoast SEO Premium plugin v26.0 (Yoast SEO v26.1.1) – https://yoast.com/wordpress/plugins/seo/ –u003enu003cmeta name=”description” content=”Blackstone held a fire sale on an Aventura senior living facility” /u003enu003cmeta name=”robots” content=”index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1″ /u003enu003clink rel=”canonical” href=”https://therealdeal.com/miami/2025/11/07/blackstone-sells-aventura-facility-for-loss/” /u003enu003cmeta property=”og:locale” content=”en_US” /u003enu003cmeta property=”og:type” content=”article” /u003enu003cmeta property=”og:title” content=”Blackstone offloads Aventura senior living facility at $37M loss” /u003enu003cmeta property=”og:description” content=”Blackstone held a fire sale on an Aventura senior living facility” /u003enu003cmeta property=”og:url” content=”https://therealdeal.com/miami/2025/11/07/blackstone-sells-aventura-facility-for-loss/” /u003enu003cmeta property=”og:site_name” content=”The Real Deal” /u003enu003cmeta property=”article:publisher” content=”https://www.facebook.com/therealdealmedia/” /u003enu003cmeta property=”article:published_time” content=”2025-11-07T22:30:00+00:00″ /u003enu003cmeta property=”og:image” content=”https://static.therealdeal.com/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss-.jpg” /u003entu003cmeta property=”og:image:width” content=”1500″ /u003entu003cmeta property=”og:image:height” content=”1000″ /u003entu003cmeta property=”og:image:type” content=”image/jpeg” /u003enu003cmeta name=”author” content=”Francisco Alvarado” /u003enu003cmeta name=”twitter:card” content=”summary_large_image” /u003enu003cmeta name=”twitter:description” content=”Blackstone held a fire sale on an Aventura senior living facility, selling the site for a $36.5 million discount. Aventura-based BH Group, led by Isaac and Liat Toledano, and Fort Lauderdale-based Gold Standard of Care bought Sterling Aventura at 2777 Northeast 183rd Street in Aventura for $12 million, a source close to the transaction told The Real Deal. New Wave Loans provided financing for the buyers.u0026nbsp; The joint venture paid 75 percent below the previous sale price eight years ago.u0026nbsp; Blackstone, led by Stephen Schwarzman, bought the property for $48.9 million in 2017, records show. At the time, the purchase [u0026hellip;]” /u003enu003cmeta name=”twitter:creator” content=”@trdny” /u003enu003cmeta name=”twitter:site” content=”@trdny” /u003enu003cmeta name=”twitter:label1″ content=”Written by” /u003entu003cmeta name=”twitter:data1″ content=”Ilya Hourie” /u003entu003cmeta name=”twitter:label2″ content=”Est. reading time” /u003entu003cmeta name=”twitter:data2″ content=”2 minutes” /u003enu003cscript type=”application/ld+json” class=”yoast-schema-graph”u003e{“@context”:”https://schema.org”,”@graph”:[{“@type”:”NewsArticle”,”@id”:”https://therealdeal.com/miami/2025/11/07/blackstone-sells-aventura-facility-for-loss/#article”,”isPartOf”:{“@id”:”https://therealdeal.com/miami/2025/11/07/blackstone-sells-aventura-facility-for-loss/”},”author”:[{“@type”:”Person”,”@id”:”https://therealdeal.com/#/schema/person/c342492cb602b1402a4b81a39a649189″,”name”:”Francisco 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(Getty, Google Maps)”,”creditText”:”The Real Deal”,”creator”:{“id”:”https://therealdeal.com/#organization”}},{“@type”:”ImageObject”,”url”:”https://static.therealdeal.com/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–700×467.jpg”,”width”:700,”height”:467,”contentUrl”:”https://static.therealdeal.com/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–700×467.jpg”,”caption”:”Blackstone ‘s Stephen Schwarzman, BH Group’s Isaac and Liat Toledano and Sterling Aventura at 2777 Northeast 183rd Street (Getty, Google Maps)”,”creditText”:”The Real Deal”,”creator”:{“id”:”https://therealdeal.com/#organization”}},{“@type”:”ImageObject”,”url”:”https://static.therealdeal.com/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–200×133.jpg”,”width”:200,”height”:133,”contentUrl”:”https://static.therealdeal.com/wp-content/uploads/2025/11/Blackstone-Sells-Aventura-Facility-For-Loss–200×133.jpg”,”caption”:”Blackstone ‘s Stephen Schwarzman, BH 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The sale is part of a larger nationwide sell-off of senior living facilities with 9,000 units that has saddled Blackstone with more than $600 million in losses. The joint venture paid 75 percent below the previous sale price eight years ago.

Blackstone Sells Aventura Facility: Practical Checklist

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