Ziegler announced its role as exclusive sell-side advisor to Radiant Senior Living in the sale of South Pointe Assisted Living, a 42-unit independent living and assisted living community located in Everett, Washington. Radiant, a West-Coast-based family-owner and operator of senior care communities, acquired the community in 2020 as part of a larger portfolio transaction including one other community in the Greater Seattle area as well as another community in Bozeman, Montana. The portfolio, which featured a majority of assisted living units, reportedly sold for just under $200,000 per unit.
Prior to acquiring the community from the previous lessor, Radiant leased and operated the community for 10 years. Occupancy dropped to the 60s throughout 2020. Ziegler had placed the debt that Radiant used to finance the aforementioned portfolio acquisition in 2020, so that working relationship helped lead to the engagement and eventual closing of this sale.
