Daniel Geraghty, Vince Viverito and Jason Punzel of Senior Living Investment Brokerage sold a couple of Kentucky seniors housing communities on behalf of the REIT owner that was divesting the properties for strategic consolidation purposes. The buyer, a Northeast-based operator looking to add to its growing Midwest portfolio, purchased Arcadian Cove in Richmond and Willow Creek Senior Living in Elizabethtown, located about 125 miles from each other.
Built in 2009, Arcadian Cove features 49 units of assisted living, while Willow Creek, built in 1998, has 65 AL and memory care units. There were multiple offers for the communities from both local and regional buyers before the Northeast-based operator was ultimately selected.
