Merrill Commercial Real Estate Negotiates $18M Seniors Housing Portfolio Sale in Redding, California
REDDING, CALIF. — Merrill Commercial Real Estate has arranged the sale of a two-property portfolio made up of 151 units of assisted living and memory care in Redding.
The properties went under contract pre-pandemic. Since that time, the occupancy dropped nearly 20 percent as a COVID outbreak in one of the locations took a toll. Despite this, the buyers stuck with the deal.
A private equity group looking to expand in California acquired the properties from an independent owner-operator for $18 million. Tyler Merrill arranged the transaction.