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MODESTO, Calif. — JCH Senior Housing Investment has arranged the triple-net lease of a 68-unit, 120-bed assisted living and memory care community in Modesto, approximately 80 miles south of Sacramento.
The team at JCH led a marketing campaign for the landlords, a family-owned owner-operator that is seeking retirement. Throughout the pandemic, the facility struggled to maintain census and keep up with new requirements from licensing, ultimately leading to a licensing revocation hearing.
A local operator seeking to convert the building to an adult residential facility was the successful bidder. The lease rate is $200,000 per bed.
Jim Hazzard and Cindy Hazzard handled the transaction process for JCH.