GARDEN CITY, Idaho — Senior Living Investment Brokerage (SLIB) has arranged the sale of Emerson House, a 36-unit, 45-bed memory care community in Garden City, a suburb of Boise.
The facility was built in 2002, with an expansion and renovations in 2017. The property totals approximately 21,460 square feet and is situated on 1.4 acres of land.
Emerson House had strong occupancy and EBITDAR prior to COVID, according to SLIB. However, due to several outbreaks and lockdowns, occupancy dropped significantly and has just started to rebound.
An undisclosed seller sold the property to a regional owner-operator. The price was not disclosed.
Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction.
“Emerson House had done very well prior to COVID,” says Punzel. “The new owner-operator has a strong history of turning around communities and excepts similar results at Emerson House.”