MERIDIAN, IDAHO — Senior Living Investment Brokerage (SLIB) has arranged the sale of Copper Springs Senior Living, an assisted living and memory care community in Meridian, just west of Boise.
The community consists of 95 units and 105 beds and was built in 1969 with remodeling done in 2013. The property totals 49,664 square feet on approximately five acres of land.
The seller is a REIT divesting to exit operations in the state of Idaho. The buyer is an Idaho-based owner-operator expanding its footprint in the state. The price was not disclosed.
Vince Viverito, Jason Punzel, Brad Goodsell and Jake Anderson of SLIB handled the transaction.
“There’s been a trend over the past few years with newer investors/operators wanting to enter the seniors housing industry, but for various reasons there can be barriers to entry,” says Viverito. “We strategically focused on a confidential auction process that allowed us to reach the fully qualified investment market and seek out a buyer excited about a turnaround project like Copper Springs.”