Marcus & Millichap Brokers $5.3M Assisted Living Sale in New Mexico

by Jeff Shaw

ALBUQUERQUE, N.M. — Marcus & Millichap has brokered the sale of Casa de Rosa, an assisted living facility in Albuquerque, for $5.275 million. The seller was a local family who previously purchased the property (then vacant) from a non-profit organization. This was the seller’s sole seniors housing property, and was sold as the owners planned to retire. The buyer was an investment group from California.

Mark Myers, Charlie Hilding and Joshua Jandris handled the transaction for Marcus & Millichap. The existing local lender allowed an assumption of the loan.

Casa de Rosa is a 49-unit, 51-bed community that was built in the 1950s for retired priests of Brothers of the Good Shepard. It was purchased in 2007 by a retired city manager and his brother, who invested about $1.2 million into renovations. 

There average occupancy is 90 percent, with about 35 private pay residents at an average monthly rate of $3,200, and six to 10 Medicaid residents. 

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