A former Petersen Healthcare seniors housing community sold in Girard, Illinois, thanks to Ryan Saul of Senior Living Investment Brokerage. Built in 2002 and featuring 48 units of independent living and assisted living, the community was 72% occupied but losing more than $100,000 a year on $1.2 million of revenues. The lender had taken control of the property in late 2024 and hired Gardant to manage the community until a sale occurred.
Gardant was able to bring occupancy up to 83% and financial performance to breakeven at the time of the sale. A private owner with other multifamily real estate holdings in the area that was looking to get into seniors housing was the buyer, paying around $31,200 per unit for the community.
