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SLIB Negotiates Sale of Two Memory Care Communities in Illinois

TAYLORVILLE and PARIS, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two Life’s Journey-branded memory care communities in Taylorville and Paris, located approximately 97 miles apart in the southern portion of Illinois.

Life’s Journey of Taylorville features 46 units in 25,000 square feet on a 4.2 acre plot. The community was built in 2012 and renovated in 2014. Occupancy was 69 percent at the time of sale.

Life’s Journey of Paris features 23 units in a 9,200-square-foot building on 0.7 acres. The community was built in 1998, renovated in 2013 and expanded in 2015. Occupancy was 96 percent at the time of sale.

The seller was an institutional, public REIT. The buyer was a private, regional operator with other communities in Illinois. The price was not disclosed.

Ryan Saul and Vince Viverito of SLIB handled the transaction.

“This transaction was an example of an institutional client divesting a smaller, non-core asset that will be better served by a local, hands-on provider with a similar portfolio,” says Saul.

The post SLIB Negotiates Sale of Two Memory Care Communities in Illinois appeared first on Seniors Housing Business.

Source: Senior Housing Business

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