Senior Living Investment Brokerage has announced the sale of three assisted living communities with memory care across three separate states. The first transaction occurred with the sale of Parsons House Frisco, in Frisco, Texas. Built in 2001 and renovated in 2007, this assisted living community comprises 64 units and sits on four acres just north of Dallas. The seller is a regional Texas owner/operator that wanted to sell a non-core asset, while the buyer is a family office located in the Western US. Ridgeline Management Company will act as the operator. Matthew Alley and Jason Punzel of Senior Living Investment Brokerage handled the transaction.
Next for Mr. Punzel, Vince Viverito, and Brad Goodsell was the sale of Pheasant Run in South Jordan, Utah. Built in 2015, this memory care community comprises 66 beds and 45 units and sits on three acres just south of Salt Lake City. The seller was a regional owner exiting the Utah market. The buyer was a family office located in the Western U.S. and will be using Ridgeline Management Company as the operator.
The third assisted living community sale handled by Mr. Goodsell and Mr. Punzel was Senior Care Villa of Loomis, in Loomis, California. Built in 2000, this memory care community comprises 27 beds and 26 units and sold with a 100% occupancy rate to a southern California based investment group that is looking to expand their portfolio within the state. The seller was a family owner/operator who sold in order to retire. The cap rate in the transaction was 8.75%.
