Sherman & Roylance handled the sale of a seniors housing community in California. The assisted living/memory care community is in Whittier and comprises 18 units with 32 beds. The seller was a long-standing family owner/operator, and the buyer was a local RCFE (Residential Care Facilities for the Elderly) owner/operator looking to expand its portfolio. Shep Roylance, John Sherman, Chris Minnery & Michael Belcher handled the transaction, which involved a combination of investor capital and seller financing. The purchase price was $4.4 million, or $137,500 per bed. No additional details were disclosed.
Local RCFE Owner/Operator Grows in California
