LOS ANGELES — The CB Richard Ellis Senior Housing Services Group has completed the sale of a 45-property senior-living portfolio. The 3,554-unit portfolio sold for approximately $364 million. The properties are located in Alabama, Arizona, California, Colorado, North Carolina, Oregon, South Carolina, Tennessee, Texas, Washington and Wyoming, and offer independent living, assisted-living services and dementia care. Additionally, the communities were approximately 85 percent occupied at the time of sale.

“The deal took over six months to complete,” says Matthew Whitlock of CBRE Senior Housing Services Group. “The buyer, seller and existing lender worked diligently to find terms agreeable to all interests. Due to the lack of liquidity in the current environment, this transaction was heavily dependent upon the purchaser and existing lender working out mutually agreeable assumption terms of the existing in-place debt.”

Whitlock, David Rothschild and Mary Christian of CBRE represented the seller, affiliates of Sunwest Management, and procured the buyer, a private equity firm. LaVida Communities, a member of the Solana Beach, Calif.-based Senior Resource Group family of companies, will manage the communities.

Content Partners
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