In February, Tony Cassie, Brant Nelson and Sam Thompson of Walker & Dunlop facilitated the sale of a seniors housing community in Concord, California. The seller, a joint venture between a local private investor group and Agemark Senior Living, purchased the community in 2018 and conducted extensive renovations while turning around operations.
Built in the 1970s as a nursing home, the community comprises 100 assisted living and memory care units. At the time of sale, occupancy was 98%. CareTrust REIT, in partnership with Kalesta Healthcare, acquired the community for $20.5 million, or $205,000 per unit.
