Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage worked together to sell a 70-unit independent living community in Medford, Oregon. Set amongst the Cascade and Siskiyou Mountains, the community was originally built in 1975 and renovated in 1980. Its operations could be improved, as occupancy fell just below 60%, and the operating margin was just 9% on more than $1.33 million of revenues.
The community’s vintage could make that task harder, but age isn’t everything. A local owner/operator bought the property and is planning to remodel and reposition the community. They paid $3.5 million, or $50,000 per unit, which should leave plenty of room to add value.
