Senior Living Investment Brokerage was brought on by a private equity group to facilitate the sale of two seniors housing communities in Utah. Vince Viverito and Jason Punzel of SLIB handled this transaction.
The seller is divesting to focus on its core assets. The joint venture buyers, a Utah-based private equity group partnering with a Utah-based operator that is expanding its existing presence in the state, intend to invest in capex and marketing to renovate the communities and enhance their performance.
Both built in 2001, these two communities collectively comprise 140 assisted living and memory care units with a total of 144 beds. One community spans 35,334 square feet across 1.56 acres in Sandy, while the other encompasses 53,255 square feet on 2.10 acres in Draper. No additional details were disclosed.
