SLIB Arranges $9.6M Sale of 40-Unit Memory Care Community in Bay Area
PETALUMA, CALIF. — Senior Living Investment Brokerage Inc. has arranged the sale of Adobe House of Petaluma, a 40-unit memory care community in Petaluma, approximately 40 miles northwest of San Francisco.
Constructed in 1996, Adobe House totals 26,000 square feet and sits on 1.68 acres.
TIC Investor Group sold the community to a regional operator based in Southern California. The new operator plans to invest considerable capital into the building. Although the sale price was not disclosed, the price per unit was $240,000, which translates to $9.6 million.
Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage handled the transaction.