Senior Living Investment Brokerage was brought on by a partnership in its divestment of an assisted living/memory care community in Freehold, New Jersey. The partnership was between Stephanie Anderson and Steve Walling, known as SilverStone HCRE, and a private equity group located in the west. During their ownership, NOI increased significantly, enabling them to sell the community at a significant profit.
Purpose-built in 2001, Mattison Crossing at Manalapan Avenue comprises 160 units with 199 beds, and its performance was stabilized during the marketing period. The selected buyer was a publicly traded REIT with an established footprint in central New Jersey that was looking to expand its relationship with a strong Northeast-based operator. So, the REIT selected a prominent Northeast-based operator that has a New Jersey presence in addition to a well-established relationship with the REIT.
Jason Punzel, Dave Balow, Brad Goodsell and Vince Viverito handled the transaction. There was a targeted and confidential market for this transaction in which SLIB procured several bids from qualified national and regional buyers focused on New Jersey.
