In a deal that shows location is absolutely crucial to a community’s desirability, an assisted living community in Santa Monica, California with 22 all-semi-private units and just a 50% occupancy rate sold to an undisclosed buyer for $4.4 million, or $200,000 per unit (nearly $10,000 higher than the average for assisted living for sales in the 12-months ending June 30, 2015). Jim Hazzard and Nick Stahler of JCH Consulting Group handled the transaction. Messrs. Hazzard and Stahler, together with Shep Roylance, also facilitated the sale of a 31-year old assisted living/memory care community with 90 units and 120 beds in Los Angeles County, California to an undisclosed buyer for $23.4 million, or $260,000 per unit, with a 6.6% cap rate.
