Its complex past didn’t stop an assisted living community in North Carolina from selling to an in-state operator, albeit for a price of $1.7 million, or just $13,900 per unit. The property’s owner, a regional operator based in the Tar Heel State, originally built it as a skilled nursing facility in 1984. However, when they decided to build a replacement SNF within the county in 2016, the existing facility switched to an adult care home licensed and operated with 92 assisted living and 30 special care (memory care) beds in 90 total units.
After a couple of years, the owner decided to close the facility but kept the license and CON active. An assisted living operator also based in North Carolina stepped in to buy the vacant facility and plans to extensively renovate it before continuing to operate it as an assisted living/memory care community. Patrick Burke of Senior Living Investment Brokerage handled the transaction.