ARKANSAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of three seniors housing properties in Northwest Arkansas.
The portfolio consisted of 175 private-pay independent living and assisted living units. The average age of the assets was 22 years and the properties averaged 52,000 square feet. Occupancy was 77 percent with revenue just under $4 million.
The seller is an independent family owner-operator based in Arkansas that exited seniors housing. The buyer is a private national company based in the Northeast with holdings in the healthcare arena. This is the buyer’s first acquisition in the state of Arkansas, but they own/operate facilities in several neighboring states.
Patrick Burke and Nick Cacciabando handled the transaction for SLIB. The price was not disclosed.