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MORENO VALLEY, CALIF. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Rancho Belago, a 94-unit assisted living and memory care in the Inland Empire city of Moreno Valley.
Totaling 125 beds, the community was built in 2014, totals approximately 98,700 square feet and is situated on approximately 7.3 acres of land.
The seller was a local developer based in greater Los Angeles area. The buyer is a group based on the West Coast that was looking to expand its presence within California. The buyer plans to optimize operations, with a renewed focus on optimizing staffing and increasing occupancy.
Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction. The price was not disclosed.