The opportunity to acquire a seniors housing asset in a high barrier-to-entry market, while being able to reposition and improve upon operational and financial performance, posed significant upside to local, regional, and national investors. At the time of sale, the community was 68% occupied, generating approximately $2,500,000 in total revenue and $425,000 in EBITDAR. A competitive bidding process included over 15 qualified offers, with an East Coast based real estate private equity firm emerging as the winning bidder. The buyer will team up with an Orange County based seniors housing firm to operate the community.
The purchase price of the facility was $25,000,000, representing approximately $169,000 per unit.
Jacob Gehl and Gideon Orion were the lead advisors on the transaction.