An institutional owner engaged Brad Clousing, Jason Punzel and Jeff Binder of Senior Living Investment Brokerage to sell two senior living communities in two western states. Totaling a combined 107 units, split between 61 independent living and 46 assisted living units, the deal included a community built in 1995 in Cody, Wyoming and one in Great Falls, Montana that opened in 2003.
Both were former Emeritus properties that have since been operated by Brookdale Senior Living. They’re in good condition, but occupancy could be improved, currently sitting at 72% at the Cody location and 87% in Great Falls. An Oregon-based regional owner/operator believes its operating structure can do the trick, and it paid an undisclosed sum for the properties.