REBusinessOnline

IPA Arranges $14.5M Sale of Two Seniors Housing Communities Near Cincinnati

NORWOOD, OHIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $14.5 million sale of Victoria Retirement Community and Victory Park Nursing Home, both located in the Cincinnati suburb of Norwood. Victoria Retirement Community, built in 1991, contains a mix of 90 skilled nursing beds and 68 assisted living beds. Victory Park Nursing Home was built in 1965 and expanded in 1989. It contains 55 skilled nursing beds. The seller was a private family investment group whose operator planned to let its lease expire. The buyer was an undisclosed real estate investment trust with a strong presence in the region that has a new operator lined up.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
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‣ Walker & Dunlop

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