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ELKINS, W.V. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Colonial Place, a 70-unit, 88-bed assisted living and memory care community in Elkins, approximately 80 miles south of Morgantown.
The community was built in 1995.
The seller was an institutional capital provider based in Florida that acquired the asset as a part of a larger portfolio. The property was an operational outlier for the seller. The buyer, a local nonprofit, now can provide a full spectrum of care in Elkins as it also owns a local nursing home.
Bradley Clousing and Dave Balow handled the transaction for SLIB. The price was not disclosed.