A 60-unit assisted living community traded in Pensacola, Florida, with Marcus & Millichap involved on both sides of the transaction. Brooks Mindord (out of the Miami office) and Rob Reis (based in San Francisco) represented the limited liability company seller, while Rod Llanos (in the Houston office) secured and represented the buyer, a private investment group from Texas.

The target, which is licensed for 85 beds, was over 90% occupied as of January 2018 and operated at a 28% margin on approximately $1.8 million of revenues. It sold for $7.0 million, or about $117,000 per unit, with a cap rate of 7.1%.