Merrill Arranges Sale of Independent Living Community in Oregon for $4.1M

by Amy Works

NORTH BEND, ORE. — Merrill Commercial Real Estate has arranged the sale of a 69-unit independent living community in North Bend.

The 44,000-square-foot community was part of a senior living portfolio that went into receivership in late 2019. The property is one of four properties in the portfolio that make up a continuum-of-care model in the local area. The name of the property and campus were not disclosed.

Mike Merrill represented the court-appointed receiver. A California-based investment group focused on the multifamily sector paid $4.1 million for the property, representing a capitalization rate of 8.4 percent. The community was 80 percent occupied at the time of sale.

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