Assisted Living and Memory Care Community Sale in Florida conducted by Brad Clousing of Senior Living Investment Brokerage, Inc. The transaction consists of an Assisted Living and Memory Care Community located just outside the Tampa MSA. The community features 30 assisted living units and 21 memory care units. The 44,000 square foot building was originally constructed in 1963 and completely renovated in 2008. The census at the time of sale was 95%. Although the community is not purpose built, the building underwent extensive renovation in 2008 giving it the look, feel and functionality of a purpose built assisted living and memory care community. The physical plant and large resident floor plans provide for potential double occupancy and an increase in the bed capacity for future revenue growth. The Seller was a local owner operator looking to exit the market. The Buyer is a private capital group that partnered with a regional operator. The 9.4% capitalization rate was higher than current market rates given the immediate cap ex needs, deferred maintenance and inconsistent operating trends. Senior Living Investment Brokerage, Inc. was able to procure multiple qualified offers within weeks of commencing marketing and was able to negotiate the Assisted Living and Memory Care Community Sale at over $100,000 per unit on the Seller’s behalf. For additional information on this Assisted Living and Memory Care Community Sale, please contact Brad Clousing of Senior Living Investment Brokerage, Inc. at 630/858-2501 or clousing@slibinc.com
