SANDY AND DRAPER, UTAH — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living and memory care communities in Utah.
The properties are located just a few miles from each other in the southern Salt Lake City suburbs of Sandy and Draper.
The communities were built in 2001 and consist of a total of 140 units. The properties total 35,334 and 53,255 square feet and are situated on approximately 1.5 and 2.1 acres of land.
The seller is a private equity group divesting to focus on its core assets. The buyer is a Utah-based private equity group with a Utah-based operator expanding its existing footprint in the state. The price was not disclosed.
The new owners plan to invest in capital expenditures and marketing to rejuvenate the communities and enhance their overall performance.
Vince Viverito and Jason Punzel of SLIB handled the transaction.