A joint venture between a large national REIT and a regional owner based in the Tulsa, Oklahoma MSA divested a small assisted living community in Tulsa for an undisclosed price. Built in 1997, The Arbors features 25 beds in 20 units on a 2.07-acre plot. It was just 70% occupied, but no financials were disclosed. An Oklahoma-based private owner stepped in to purchase the property and has plans to convert it to skilled nursing, with a hospice specialty. Nick Cacciabando and Jason Punzel of Senior Living Investment Brokerage marketed the property, helped source the buyer and closed the transaction.
REIT Joint Venture Divests Oklahoma Asset
