Ray Giannini of Marcus & Millichap reported a strong second half of 2021, with a couple more deals to report on. First, he sold a 110-bed CCRC in Ladysmith, Wisconsin. Called Ladysmith Care Community, the property was built in stages from the 1950s and 60s to 1991 and most recently in 2012. It features 62 skilled nursing beds and 20 residential care (assisted living) units with 48 beds. Occupancy was good at closing, helped in part by the community’s proximity to Marshfield Clinic, part of the regional Marshfield Clinic Health System. The original owner sold the community for $6 million, or $54,500 per bed.
Then before New Years Eve, Mr. Giannini sold a CCRC in Gaylord, Minnesota called Oak Terrace Senior Housing of Gaylord. The community features a combination of 52 skilled nursing beds and 47 units of independent living, assisted living and memory care. The campus sold for $9.5 million, or $96,000 per bed/unit.
