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Transactions

Sale of Two Upper Midwest Memory Cares Brokered by Senior Living Investment Brokerage

June 2, 2023

Senior Living Investment Brokerage (SLIB) recently handled the sale of two memory care facilities, one in Lansing, MI, and the other in Beavercreek, OH.

The facilities, totaling 100 units and 132 beds, were each built in 2018. The properties are both approximately 34,500 square feet on nearly five acres of land.

The seller is a national owner/developer that is exiting the industry; the buyer was a REIT that will be leasing the communities to Ridgeline Management Company.

According to Jason Punzel, Managing Director at SLIB, “The two communities were well designed and constructed. Both communities commanded strong rents and are well positioned in the marketplace.”

Punzel, Brad Goodsell, Vince Viverito, and Jake Anderson of Senior Living Investment Brokerage handled the transaction.

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