Four memory care communities with a combined 38 units in Montgomery County, Maryland recently sold to an in-state owner/operator for $4.3 million, or $113,158 per unit. All built between 15 and 30 years ago, the communities feature all private rooms and are 100% private pay. Occupancy was also usually full, with a waiting list. One building was actually larger than the other three, but they still combined for just 25,000 square feet. The transaction featured a 14.8% cap rate. Bob Gaines of Colliers International represented the private owner/operator seller in the transaction.