September 25, 2015
Grant Kief

Senior Living investment Brokerage Sells Assisted Living Community

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Toby Siefert and Jeff Binder sold a 47 Unit Assisted Living and Memory Care Community that included 2 cottages (3 units each) on 6 acres in Virginia. With 84 total beds, the monthly market rates ranged from $4,050-$5,100 per bed/month. It was sold by a private owner who decided to exit the seniors housing business. The Buyer is a private REIT based on the West Coast who partnered with a national operator. Located 75 miles outside Washington D.C., the community offered an affordable alternative and allows for higher acuity due to I-2 construction. The purchase price was $14,300,000 or $270,000 per unit. The census was 91%. For additional information, please contact Toby Siefert at siefert@slibinc.com or Jeff Binder at binder@slibinc.com