Newmark facilitated the divestment of a seniors housing community in Bend, Oregon. Built in 2013 and 2016, Mt. Bachelor Assisted Living and Memory Care comprises 156 assisted living and memory care units. Ventas revealed that it acquired this community for $55 million, or $352,600 per unit.
This announcement comes shortly after Newmark facilitated the sale of a seniors housing portfolio featuring assets spread across three states. Dubbed Project Stone, the four-community portfolio includes Class-A communities at irreplaceable locations in strong Ohio, Kentucky and Missouri submarkets. Together, they comprise 460 independent living, assisted living and memory care units.
The communities had positive leasing and operating margin trends, as well as strong recent rental and care increases. The portfolio was being offered at a discount to replacement cost, but the purchase price was not disclosed.
