Four years after acquiring a 50-unit independent living community in the Rochester, New York MSA, a not-for-profit organization divested the property in order to focus on its higher acuity portfolio in the area. Dave Balow of Senior Living Investment Brokerage represented the organization in the property’s sale to a rapidly growing private equity firm in the seniors housing space. The buyer, which paid an undisclosed sum, partnered with a New York-based management company on the deal. The partnership has an existing presence in the Rochester market, which should help them drive future efficiencies at the community and provide a full continuum of care in the local market.
Built in 2000, the community was around 93% occupied and had consistently maintained high occupancy levels. The buyer used a Pennsylvania-based community bank actively lending in the senior care space to finance the deal.
