Patrick Burke, Brad Clousing and Ryan Saul teamed up for a seniors housing sale of two communities. The first property is a 196 Unit Independent Living Facility built in 1987. The census at the time of sale was 70%. The second property, also built in 1987, had a census of 82% and is a 51 Unit Assisted Living and Memory Care Facility. The Buyer is a private investor based out of Virginia that hired a regional operator to manage the communities. The new operator has a strong track record in Tennessee and plans on using their marketing expertise to improve occupancy at both communities to increase the NOI. The Seller is a regional operator based out of the Southeast. Senior Living Investment Brokerage had previously sold these communities to the Seller. The in-place capitalization rate for both communities was 7.4%. For additional information on this transaction or for a confidential, professional proposal for the value of your community, please contact Ryan Saul, Brad Clousing or Patrick Burke of Senior Living Investment Brokerage, Inc. at 630/858-2501.
