This transaction consisted of 2 personal care homes located approximately 40 miles from each other. The first community is comprised of 94 personal care units, 22 of which are memory care units, and it is licensed for 105 beds. The building was originally constructed in 1997 but underwent renovations in 2001, 2006 and 2008. The 48,905 square foot building offers a variety of unit options and amenities. The second community is a personal care home that features 59 units and is licensed for 70 beds. The building was constructed in 2008 and is 43,201 square feet. This community also offers a variety of unit options and common area amenities. It also benefits from limited competition in the area. The Seller is a local owner/operator that developed both of the assets. The Buying entity is a partnership between a publicly traded REIT and their affiliated national operator. Both facilities were trending towards 90-95% occupancy at the time of closing. The sales price was $19,000,000 ($124,837/unit) which was an 8.0% capitalization rate. For additional information please contact Jeff Binder at binder@slibinc.com 314/961-0070 or Brad Clousing at clousing@slibinc.com 630/858-2501.
