Sherman & Roylance announced the sale of a small assisted living/memory care community poised for growth in San Luis Obispo County, California. Totaling 33 units, the community has a strong historical revenue base and was fully stabilized. As such, there was a shovel-ready project with a Major Use Permit, pre-approved plans and entitlements for a new 52-unit community on a 2.56-acre lot.
After a healthy bidding process, a private owner/operator offering the best combination of price, terms and execution probability was selected. And in the end, Sherman & Roylance was involved in every step of the transaction, from the buyer’s due diligence to the transition between the outgoing and incoming operators, to the ultimate closing.
