Senior Living Investment Brokerage reported a slew of closings in the last days of the third quarter. Starting in Arizona, the firm sold an assisted living/memory care community in Scottsdale, for an undisclosed price. Built in 1999 and renovated in 2017, the community has 96 units and was previously owned by a REIT looking to reinvest capital into its portfolio and into new acquisition opportunities. Meanwhile, the buyer is entering the Arizona market with the purchase, already with experience operating in Colorado. Vince Viverito and Brad Clousing handled the transaction.
Next, Clousing and Daniel Geraghty worked on behalf of another REIT to sell an 118-bed skilled nursing facility in Pensacola, Florida. Built in 1984, the 118-bed facility fell outside of its publicly-traded owner’s core geography and was sold to a Northeast-based owner who is utilizing their operating partner through the Southeast. There were multiple offers on the facility, but the purchase price was not disclosed.
Finally, earlier in the month, SLIB facilitated the sale of a seniors housing community in Lubbock, Texas. The seller was a Pacific Northwest-based private equity company divesting a non-core asset. The community features 56 independent living and assisted living units with 37,400 square feet on 8.5 acres.
Jason Punzel, Jeff Binder and Matthew Alley handled the transaction. There were multiple offers from both regional and national buyers, with the ultimate buyer being a Dallas-Fort Worth-based regional owner that is partnering with an operator that has an existing facility in the Lubbock area.
