Senior Living Investment Brokerage, Inc. recently announced the $4.1 million dollar sale of a 39 unit Assisted Living Facility located in Edmond, Oklahoma. The sale of the one-story facility was to Legend Senior Living of Wichita, Kansas. Legend was looking to acquire a facility outside of its three senior housing facilities located in the Oklahoma City market. The transaction also included the sale of an adjacent parcel of land allowing expansion should Legend see fit to develop the land further. The facility, constructed in 1999, had 38 of the 39 units leased up at the time of sale and was a strategic divestment for the seller.
“The sale of this asset provides both a desired return for the seller, plus an attractive facility with tangible upside for Legend as they continue their impressive growth through a disciplined acquisition approach and ground – up development,” stated Jeff Binder and Nicholas Cacciabando from Senior Living Investment Brokerage.