SLIB Negotiates Sale of 130-Unit Granite Hill Estates in Maine

HALLOWELL, Maine — Senior Living Investment Brokerage (SLIB) has arranged the sale of Granite Hill Estates, an entry-fee continuing care retirement community (CCRC) located in the Central Maine city of Hallowell.

MaineGeneral Health sold the property to a regional owner-operator for an undisclosed price.

Granite Hill Estates features 46 independent living cottages, 60 independent living apartments and 24 assisted living/memory care units. The independent living portion was built in 2000, with assisted living added in 2006. There is also room for further expansion on the 43-acre site.

The buyer assumed the balance of the entry fee liability, which applied to the independent living cottages and apartments.

Toby Siefert and Bradley Clousing of SLIB handled the transaction.