A couple of West Coast entities traded a portfolio of four assisted living/memory care communities in Oregon. Located in Brookings (2), Gold Beach and Sheridan, the communities total 190 beds in 169 units. They were built from 1996 to 2000 and averaged around 90% occupancy. Plus, they operated at a decent 23% margin based on 2021 figures.
However, the Oregon-based owner/operator seller wanted to recycle their capital for additional expansion opportunities and engaged Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage to handle the transaction. A joint venture between a Pacific Northwest operator and a California-based private equity company was selected as the buyer, for an undisclosed price.
