May 24, 2015
Grant Kief

Senior Living Sells Memory Care and Assisted Living Facility in Indiana

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Jeff Binder and Ryan Saul recently worked together to sell a memory care and assisted living community of 124 units in Indianapolis, IN.  The community consists of 82 assisted living units and 42 memory care units.  The assisted living wing was constructed in 1999 and renovated in 2009 whereas the memory care wing was constructed in 2007.  The community is comprised of 113,000 square feet on 2.5 acres.  At the time of sale, the overall census was approximately 80%.  The Seller of the memory care and assisted living community was a publicly traded REIT utilizing a regional operator.  The Buyer is a private, regional owner that sold their portfolio a few years ago and is seeking to reenter the seniors housing market.  The new owner plans to increase occupancy by bringing in a Medicaid Waiver certification and focus on building census.  Senior Living Investment Brokerage sold the facility for $17,000,000.  For additional informaton, please contact Ryan Saul at ryansaul@slibinc.com or Jeff Binder at binder@slibinc.com