The Communities
Granite Hill Estates is an entry-fee CCRC located in Hallowell, Maine. Located about an hour north of Portland, Maine, the community is comprised of 130 units with a campus breakdown of 46 IL cottages, and a large main lodge with 60 IL apartments and 24 AL/MC units. The cottages and IL portion of the main lodge were built in 2000, and the AL/MC addition was in 2006. Occupancy is very strong and there is room for expansion on the +/- 43 acre site.
The Process
The Seller was a large health system in Maine. SLIB was able to deliver on a quick marketing process that resulted in giving the Seller different options in terms of Buyer profiles.
The Result
The Buyer is a regional owner/operator with a strong presence in Massachusetts and Maine. The Buyer assumed the balance of the entry fee liability which applied to the independent living cottages and apartments.
Granite Hill Estates
The Communities
Granite Hill Estates is an entry-fee CCRC located in Hallowell, Maine. Located about an hour north of Portland, Maine, the community is comprised of 130 units with a campus breakdown of 46 IL cottages, and a large main lodge with 60 IL apartments and 24 AL/MC units. The cottages and IL portion of the main lodge were built in 2000, and the AL/MC addition was in 2006. Occupancy is very strong and there is room for expansion on the +/- 43 acre site.
The Process
The Seller was a large health system in Maine. SLIB was able to deliver on a quick marketing process that resulted in giving the Seller different options in terms of Buyer profiles.
The Result
The Buyer is a regional owner/operator with a strong presence in Massachusetts and Maine. The Buyer assumed the balance of the entry fee liability which applied to the independent living cottages and apartments.
