Toby Siefert and Dave Balow of Senior Living Investment Brokerage headed to Torrington, Connecticut, to sell a 68-unit assisted living/memory care community owned by one of the largest New England-based operators. With the sale, the owner was able to realize its investment horizon on the asset.
The Cottage at Litchfield Hills was built in 1998 and features 39 assisted living and 29 memory care units. It maintained high occupancy levels and above market rents, helped by key demographic growth in the Torrington market. A growing Northeast-based private equity group seeking to grow its footprint into the Connecticut market paid an undisclosed sum for the community.
