SLIB Negotiates $3.3M Sale of Assisted Living Community in Northwest Arkansas

CLARKSVILLE, Ark. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Heritage Inn Retirement Center, an assisted living community in the Northwest Arkansas city of Clarksville.

Originally constructed in 1996, the property features 30 units and was recently converted from independent living to assisted living. The community was 97 percent occupied at the time of sale.

The buyer is a regional owner-operator based in Mississippi and looking to expand in Arkansas. The seller is a local owner-operator looking to exit the seniors housing sector entirely.

Daniel Geraghty and Bradley Clousing of Senior Living Investment Brokerage handled the transaction. The $3.3 million price represents a price per unit of $108,333 and a capitalization rate of 10.7 percent.