IPA Sells “A” Property in California

High-quality “A” level assisted living communities may have taken a back seat to the “B” properties in the 2018 M&A market, according to new statistics in our soon-to-be-published Seniors Housing Acquisition and Investment Report, but the team at IPA Seniors Housing (a division of Marcus & Millichap) sold one in a Sacramento, California suburb. Opened in September 2015, it was previously owned by a family company based in the Northwest. Its 85 assisted living and 32 memory care units were occupied in the mid-90s, and the community produces strong cash flow.

An owner/operator with a strong presence on the West Coast that was looking to add high-end assets to its portfolio ended up as the buyer, paying an undisclosed price. Mark Myers and Josh Jandris, with the help of Marcus & Millichap’s broker of record in California, Adam Christofferson, represented the seller in the transaction.

 

 

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