Jason Punzel of Senior Living Investment Brokerage, Inc. recently handled an Independent Living Community sale in Washington. The community consists of a 98 unit Independent Living Community with a mix of apartments and cottages on a beautiful 24 acre site. The property was built in phases between 1986 and 2003. It is located just off of Interstate 5 halfway between Portland and Seattle adjacent to a medical center. Senior Living Investment Brokerage, Inc. procured four offers from Regional and National buyers. The Buyer selected is a public REIT with a national presence. They will be leasing the property to a regional operator. The new operator has plans for major capital improvements and future expansion of additional units and services. The census at the time of sale was 95% and the cap rate was 8.7%. For additional information on this or other transactions completed by Senior Living Investment Brokerage, Inc. contact Jason Punzel at 630/858-2501 or punzel@slibinc.com
