Senior Living Investment Brokerage was brought on by a REIT in its divestment of a seniors housing community in Colorado. This was its tenant’s only managed asset in the state. The buyer was a Colorado-based owner/operator growing its portfolio. The purchase price was $3.0 million, or $36,100 per unit and $27,800 per bed.
Built in 1982 and 1989, Devonshire Acres offers independent living, assisted living and skilled nursing in Sterling on 10 acres. There was also a large greenhouse added in 2021 for residents to enjoy gardening. The community comprises 24 IL/AL and 68 SNF beds, with 15 IL/AL and 84 SNF units. Occupancy, as of April 2023, was 86.7% for the IL/AL component and 71.3% for the skilled nursing component. Vince Viverito, Jeff Binder, Nick Cacciabando and Jason Punzel handled the transaction.
