We discuss in the July issue of The SeniorCare Investor the lack of high-valued transactions in June (and for the rest of the year), but one notable exception was Blue Moon Capital Partners’ acquisition of two assisted living communities in high barrier-to-entry markets in California. Belmont Village Senior Living developed the two assisted living/memory care properties in Thousand Oaks, California and Scottsdale, Arizona. Built in 2011 and 2012, respectively, the communities were close to full occupancy by the time of the sale. Blue Moon Capital Partners, which matches institutional capital investors with seniors housing operators, was the buyer, with Belmont Village owning a minority stake. Aron Will of CBRE secured an $80 million non-recourse, seven-year fixed-rate loan, with 48 months of interest only, procured through a life insurance company. Given that the loan comes out to $290,900 per unit, we can assume that the actual purchase price was significantly higher, even surpassing $400,000 per unit when you assume a typical 70% loan-to-value.