Seven sales in North Carolina

Mike Pardoll of Marcus & Millichap burst out of the gate in July, arranging the sale of seven senior care properties (six assisted living and one skilled nursing facility) in North Carolina in three separate transactions, totaling almost $43 million. The first was the sale by a not-for-profit foundation of five assisted living properties with 300 units (there are 60 units at each) for $22.3 million, or about $74,300 per unit. Meridian Senior Living was the buyer. Second, a group of private investors sold their 60-unit assisted living community in Wadesboro, North Carolina to Meridian Senior Living for $4 million, or $66,700 per unit. Finally, Mr. Pardoll, together with Mark Myers also of M&M, facilitated the sale of a 134-bed skilled nursing facility in Raleigh for $16.5 million, or $123,100 per bed. A local company with another community in North Carolina purchased the facility from Clearwater, Florida-based Traditions Senior Management. For more details on these transactions, plus others from Mr. Pardoll this month, check out the next issue of The SeniorCare Investor.