SLIB Negotiates Sale of 160-Unit Mattison Crossing in Freehold, New Jersey

by Jeff Shaw

FREEHOLD, N.J. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Mattison Crossing at Manalapan Avenue, a 160-unit assisted living and memory care community in Freehold, approximately 50 miles south of New York City.

Mattison Crossing features 199 beds.. The community’s performance was stabilized during the marketing period with opportunities for future growth, according to SLIB.

The seller was a partnership between Stephanie Anderson and Steve Walling (SilverStone HCRE) and a private equity group located in the West. The buyer was a publicly traded REIT with an established footprint in central New Jersey. The price was not disclosed.

The buyer’s selected operator is LCB Senior Living, a Northeast-based operator with a New Jersey presence and a well-established relationship with the REIT.

Jason Punzel, Dave Balow, Brad Goodsell and Vince Viverito of SLIB handled the transaction.

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