A REIT divested its assisted living/memory care community in an affluent suburb of Salt Lake City, Utah, with the help of Vince Viverito and Brad Clousing of Senior Living Investment Brokerage. Built in 2001, the 116-unit asset in Cottonwood Heights did not fit into the out-of-state REIT’s core portfolio. But a private equity group with a strategic operating partner growing its portfolio in Utah stepped in to buy the community for an undisclosed price.
REIT Divests AL/MC Community to PE Group
