Jason Punzel, Vince Viverito, Brad Goodsell and Jake Anderson of Senior Living Investment Brokerage handled the sale of an assisted living/memory care community in Portland, Oregon. They represented the local owner/operator who was seeking to retire from the industry.
Built in 1961 and renovated in 2021, the community features 72 units of assisted living and memory care. Occupancy was around 67%, and the community operated at a 12% margin on approximately $2.725 million of revenues. A new owner with some scale may be able to improve operations pretty quickly. A Salt Lake City-based private equity firm emerged as the buyer, adding its second community in the Portland market. The purchase price was $6.1 million, or $84,700 per unit.
