Knapp Group Brokers $7.5M Sale of Two Communities in Pennsylvania

IRWIN, Pa. — The Knapp Group of Marcus & Millichap has brokered the sale of two seniors housing properties in Irwin, approximately 20 miles southeast of Pittsburgh.

The communities comprise 95 units of independent living and assisted living. They were built in 1999 and 1959, with an extensive renovation in 2009. The names of the facilities were not disclosed.

The seller was a prominent physician within the community looking to retire from the seniors housing business. A local owner-operator acquired the communities for $7.5 million.

Joseph Knapp was the lead agent on this transaction.