LENOX, Iowa — Senior Living Investment Brokerage (SLIB) has arranged the sale of Vintage Park, a 40-unit assisted living and memory care community in Lenox, 25 miles north of the state border with Missouri.
The community totals 3,000 square feet on four acres of land.
The seller is a local owner and operator looking to exit the seniors housing sector. The buyer is a joint venture between an East Coast investor and a growing Midwest operator. The price was not disclosed.
This property is the second acquisition in the state of Iowa for the buyers, with several others in the pipeline. Although the joint venture is predominantly acquiring skilled nursing, the buyer is attempting to diversify its portfolio with cash-flowing assisted living communities.
Nick Cacciabando of SLIB handled the transaction.