![The SLIB Team Sells AL/MC in Oregon](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2016/09/bigstock-Green-Coniferous-Forest-Lit-By-90469688.jpg)
![The SLIB Team Sells AL/MC in Oregon](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2016/09/bigstock-Green-Coniferous-Forest-Lit-By-90469688.jpg)
![California Dreamin’](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2016/07/bigstock-California-And-U-S-Flags-900513.jpg)
California Dreamin’
In a different sort of transaction than Senior Living Investment Brokerage’s recent Oregon deal, the team of Brad Goodsell, Jason Punzel and Vince Viverito handled the sale of a value-add property in California. Located about 12 miles southeast of Los Angeles, this 77-unit assisted living and memory care community was built in 1984 with a renovation in 2017. Occupancy was closer to where the rest of the industry has been near the end of the pandemic at 76%. A local owner/operator paid $7.7 million, or an even $100,000 per unit (certainly makes the math easy), with an in-place cap rate of about 7.7%. With the low occupancy, the operating margin is just under 19%, which certainly... Read More »![Senior Living Investment Brokerage Sells CCRC in Erie](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2021/05/finance-4858797_640.jpg)
Senior Living Investment Brokerage Sells CCRC in Erie
Toby Siefert and Ryan Saul of Senior Living Investment Brokerage handled the sale of a Type C CCRC in Erie, Pennsylvania, working on behalf of the local not-for-profit seller. The original building was constructed in 1929, but the campus has undergone numerous additions and renovations over the years, most recently in 2010. It now has 139 skilled nursing beds and 58 residential/personal care beds in 29 units. Even though there are no independent living units, the CCRC designation is particular to Pennsylvania licensing. Currently, 100 of the skilled beds are used for skilled nursing (and they are dually certified), while 39 beds are in a separate building dedicated to... Read More »![Senior Living Investment Brokerage Handles Active Adult Deal](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2017/12/bigstock-Business-Handshake-Agreement-P-83033555-1.jpg)
Senior Living Investment Brokerage Handles Active Adult Deal
Their ears must have been burning, because after we discussed the rise in M&A activity in the active adult/55+ market, Matthew Alley and Bradley Clousing of Senior Living Investment Brokerage announced the sale of an 81-unit community in Granbury, Texas. Developed in stages from 2018 to 2020 by a local mom & pop, it was already fully occupied with a wait list by the end of 2020. Talk about strong demand! It helps that the community is located near Lake Granbury and the lakefront activities there, along with many restaurants and shopping downtown. We’ve talked about the strong operating margins that active adult can offer, and indeed, this community brought in $950,000 of EBITDAR... Read More »![SLIB Sells Wisconsin Assisted Living Portfolio](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2017/12/bigstock-US-state-flag-of-Wisconsin-wav-106260473.jpg)