Continuum Advisors facilitated the sale of a CCRC in Meredith, New Hampshire, near the shores of Lake Winnipesaukee. Financially strained for several years, the community was sold through a court-directed process with OnePoint Partners serving as the Rehabilitation Trustee and Continuum was retained to market the CCRC for sale.
Built in 2008, Meredith Bay Colony Club comprises 85 units (41 independent living, 20 assisted living and 24 memory care units) on over 11 acres with an additional 18+ acres of undeveloped land for future expansion.
David Kliewer and Jay Jordan led the sale to close on November 1. The purchase price was $11 million, or $129,400 per unit. Additionally, the buyer, Taylor Community, assumed approximately $10.5 million in resident entrance fee refund liabilities. Taylor Community currently operates three other sites in the local area.
This deal marks the Continuum team’s 175th seniors housing transaction across 35 states, with an additional $350 million in its national sales pipeline currently under contract. It also marks more than $1.25 billion in CCRC sales closed by the Continuum team.
