CHUBBUCK, IDAHO — Senior Living Investment Brokerage (SLIB) has arranged the sale of Cottonwood Cove, an 82-unit independent living community in Chubbuck, located in the southeast portion of the state.
The facility was built in 1987 and totals 117,828 square feet on approximately five acres of land. The price was not disclosed.
Cottonwood Cove has consistently performed even through the pandemic, with an occupancy near 100 percent on an ongoing basis, according to SLIB.
The seller was a local owner, with this being its sole senior living asset. The buyer is a Western-based private equity group. The buyer plans to invest in extensive renovations and add additional services for the residents.
Vince Viverito, Jason Punzel and Brad Goodsell of SLIB handled the transaction.