IPA Arranges Sale of Heritage Portfolio for $87.5M in Pennsylvania

by Jeff Shaw

BETHLEHEM, BOYERTOWN and YORK, Pa. — Institutional Property Advisors, a brokerage arm of Marcus & Millichap, has arranged the sale of a portfolio of three Heritage Senior Living communities for $87.5 million.

The portfolio comprises 328 units of assisted living, memory care and independent living, resulting in a price per unit of $266,768. The properties, which were not identified, are located in Bethlehem, Boyertown and York.

The transaction is arranged as a sale-leaseback with a non-traded REIT, which was not identified.

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