Ray Giannini of Marcus & Millichap handled the sale of three assisted living/memory care communities in Wisconsin. Dubbed the Caring Alternatives Portfolio, the communities are located in affluent markets in Oak Creek and Muskego. There were 13 two-bedroom and 62 one-bedroom units, all with private bathrooms.
The communities were relatively new construction, having been built in 2009, 2011 and 2018. Operations were strong, with 100% occupancy at closing, with a 91% private pay census across the 75 units. With that kind of census, the communities also boasted excellent cash flow. The trio sold for $18 million, or $240,000 per unit.
