The Senior Living Investment Brokerage team of Daniel Geraghty and Ryan Saul sold an assisted living community in central Wisconsin for an undisclosed price. Built in the early-1990s, the community was 92% occupied at the time of marketing, but occupancy reached 100% by the time of the sale.
Working on behalf of a Northeast-based REIT that deemed the property to be an operational outlier, as it was their only Wisconsin property, the SLIB team procured multiple offers from interested parties. With occupancy like that, we are not surprised.
In the end, the buyer was a private regional company with additional assets in Wisconsin looking to strategically add to their portfolio. They have a plan to increase rents and improve profitability going forward, but it seems like they are hitting the ground running.
