Mark Van Den Broeke of Senior Care Realty closed the sale of a northern Wisconsin memory care community on behalf of the mom & pop seller looking to divest their only asset. Built in 2015 with high-end finishes, the community has 28 beds and 24 units, with rents averaging $7,000 per month. It boasted 92% occupancy, with a majority of residents being private pay.
The community also operated at a roughly 38% margin on about $1.65 million of trailing revenues, but the seller was motivated to exit. An out-of-state family buyer with a handful of properties in Texas but ambitions to grow in the Midwest paid $4.4 million, or $183,300 per unit, for the community.
