December 27, 2023
MENIFEE, CA — Senior Living Investment Brokerage recently announced that it had facilitated the sale of an assisted-living and memory-care community located in this city 25 miles southeast of Riverside, California.
Built in 2010, the community features 55 apartments and 88 beds in approximately 30,000 square feet situated on nearly two acres.
This was the seller’s only senior living asset; they self-managed since inception and they are now retiring.
“We received multiple offers on the property,” said SLIB Senior Vice President Brad Goodsell in a press release, “and were pleased to work with the buyer as they grow their regional portfolio, while also focusing on improving the services available to residents.”
The buyer was a California-based group, which is actively growing its portfolio in southern California. They plan to self-manage the property and maximize potential through limited cosmetic updates, and a renewed focus on marketing to increase occupancy.