ESI Arranges Sale of 55-Unit Memory Care Facility in Oregon for $10.2M

by Jeff Shaw

BROOKINGS, Ore. — Evans Senior Investments has arranged the sale of Ocean Park, a 55-unit memory care community in Brookings on the west coast of Oregon near the California border, for $10.2 million.

At the time of sale, the facility was 100 percent occupied. A non-traded REIT purchased the property from a local, family-based owner/operator.

The purchase price translates to $255,000 per unit. The capitalization rate of the facility was 7.2 percent on the trailing 12 months’ NOI of $739,000.

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