Senior Living Investment Brokerage sold The Sage Meadow Portfolio, which included a Residential Care Apartment Complex (RCAC) and a Community-Based Residential Facility in eastern Wisconsin, approximately 60 miles from each other. Sage Meadow of Fond du Lac features 40 units and was built in 1997 and 2001. Sage Meadow of De Pere (near Green Bay) also has 40 units and was built in 2002. Combined, the communities were 92% occupied and operated at a 20% margin on $4.14 million of estimated revenues.
A private equity group with holdings across the Midwest sold the assets to a Tennessee-based group with other holdings in Wisconsin for $8.5 million, or $106,250 per unit, at a 9.7% cap rate. Ryan Saul and Patrick Burke of SLIB handled the transaction.
