Senior Housing: Senior Housing Sales
Senior Living Investment Brokerage Announces $10.6 million sale in Mississippi
Senior Living Investment Brokerage, Inc. recently announced the sale of a 100 unit Seniors Housing Community located in Brandon, a suburb of Jackson, Mississippi for 10.6 million, or approximately $106,000 per unit. The 85,000 square foot, two story building consists of 75 Assisted Living units and 25 Memory Care units. The facility, constructed in 1999, is located on 5.4 acres and had an occupancy level of 98% at the time of the sale.
“This was the Seller’s sole senior housing asset, and the experienced new ownership group hopes to resolve a number of operational inefficiencies and further grow the financial returns of this asset,” stated Ross Sanders of Senior Living Investment Brokerage, Inc.
CLW Health Care Announces Sale of Summerfield in Bradenton, Florida
CLW Health Care Services Group is pleased to have represented Summerfield Retirement Residence, LTD in the sale of Summerfield located in Bradenton, Florida. This 120-unit Assisted Living/Memory Care community was sold for $9,500,000 or $79,167 per unit. Built in 1988, the single story building is comprised of over 76,000 square feet on 7.7 acres and had an occupancy of 78% at closing. TJM Properties, Inc., based in Clearwater, Florida was the purchaser.
The Ensign Group Acquires Colorado Assisted and Independent Living Facility
The Ensign Group, Inc. (Nasdaq: ENSG) announced that it acquired Canterbury Gardens Independent & Assisted Living Community, a 235-bed assisted and independent living facility in Aurora, Colorado effective November 1, 2010. The facility had an occupancy rate of 85% at acquisition and is the company’s latest move into Colorado. Ensign first entered Colorado in early 2009, acquiring three skilled nursing facilities and one assisted living facility in the Denver metropolitan area.
“This strategic acquisition further solidifies Ensign’s operating synergies in a key operating market,” said Christopher Christensen, Ensign’s President and Chief Executive Officer.