Senior Living Investment Brokerage, Inc. recently announced a $21 million dollar sale of a 98,300 square foot Continuing Care Retirement Community (“CCRC”) located in Lawrence, Kansas. The facility, which was developed in 1998 and renovated in 2006 & 2007, has a total of 140 skilled nursing bed, 37 assisted living units, and 82 independent living units and was at 95% occupancy at the time of the sale. The buyer, a real estate investment trust (“REIT”), adds these beds / units to the approximate 26,000 living units already owned in 34 states. Lawrence is one of the largest markets in the state of Kansas and home of the Kansas University Jayhawks was named one of the top 10 places to retire in the United States by U.S. News & World Report in 2007. Jeff Binder and Nick Cacciabando of Senior Living Investment Brokerage, Inc. handled the transaction.
“Senior Living Investment Brokerage is grateful for the opportunity to work with both the Buyer and Seller in this transaction involving a quality asset, sold at an aggressive price in the challenging economic environment of 2009,” said Jeff Binder.