Sherman & Roylance facilitated the sale of a purpose-built, six-bed RCFE community in Sonoma, California, with all private units. The purchase price was $1.75 million, or $290,000 per bed. The seller divested because it is consolidating its portfolio.
The buyer was a real estate agent, and this is their first acquisition in the long-term care industry. Operating with a solid track record, the facility generates approximately $50,000 in gross revenue per month, boasting an average resident rate of $8,000 per month. Michael Belcher and Chris Minnery handled the transaction.
