JCH pair closes two sales

The team of Jim Hazzard and Nick Stahler of The JCH Group closed the sale of two assisted living/memory care communities totaling $18.9 million. First up, an owner/operator sold its only senior care asset, an 86-unit AL/MC community in San Bernadino County, for $13.6 million, or $158,140 per unit. Built in 2002, the community featured 62 AL units and 24 memory care units, and was decently occupied at 86%. A national seniors housing owner/operator was the buyer and should be able to use some economies of scale to improve operations. And second, Mr. Hazzard and Mr. Stahler sold an assisted living/memory care community in San Joaquin County for $5.3 million, or $120,455 per unit. Again, the seller was a single-asset owner/operator, but this time selling to a Southern California-based investment fund, with a majority of its funds coming directly from China. The buyer plans on investing $1.5 million in physical plant improvements to the 46-year old community.

 

 

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