The Community
Harbour Pointe Retirement is a 107-unit Assisted and Independent Living Community located in the affluent Seattle suburb of Mukilteo, Washington. The property was built in phases in 2000 & 2004 with additional room for expansion. Occupancy at time of sale was 90% and rising. The Seller was a local owner/operator seeking to retire from the business.
The Process
SLIB focused the marketing process primarily on REITs and larger private equity companies. The process yielded a total of 6 offers from qualified Buyers. After a Best and Final round of offers, a private equity company was chosen whom closed quickly.
The Result
The chosen Buyer is a private equity company based out of Washington, D.C. They partner with an Operator out of Vancouver, Washington, to manage the property. The private equity company plans approximately $1,000,000 of capital improvements to make Harbour Pointe Retirement a “Best-in-Class” community for the area.
Harbour Pointe Retirement
The Community
Harbour Pointe Retirement is a 107-unit Assisted and Independent Living Community located in the affluent Seattle suburb of Mukilteo, Washington. The property was built in phases in 2000 & 2004 with additional room for expansion. Occupancy at time of sale was 90% and rising. The Seller was a local owner/operator seeking to retire from the business.
The Process
SLIB focused the marketing process primarily on REITs and larger private equity companies. The process yielded a total of 6 offers from qualified Buyers. After a Best and Final round of offers, a private equity company was chosen whom closed quickly.
The Result
The chosen Buyer is a private equity company based out of Washington, D.C. They partner with an Operator out of Vancouver, Washington, to manage the property. The private equity company plans approximately $1,000,000 of capital improvements to make Harbour Pointe Retirement a “Best-in-Class” community for the area.
