Marcus & Millichap recently announced the sale of three assisted living facilities located in Ohio and Arizona. The company sold Summerville at South Dayton, a 115 unit and 62,052-square foot assisted living facility located in Dayton, Ohio for $4,000,000. Summerville at South Dayton, constructed in 2994, is a private-pay, 115-unit assisted living and memory care facility that was approximately 64% occupied at the time of sale. Additionally, Marcus & Millichap announced the sale of a 50 unit independent living facility in northeast Cleveland for $2,475,000. The 34,000 square foot facility of Westport Independent Living Facility was situated on four acres of land and had an approximate occupancy at the time of sale at 50%.
Marcus & Millichap also announced the successful sale of of Willow Creek, a 116 unit Alzheimer’s and assisted living facility in the Phoenix suburb of Youngtown, Arizona. The facility, part of the Sunwest Managment Bankruptcy estate, was sold via a 363 bankruptcy auction for $7,100,000 or $61,200 per unit.
“We are extremely pleased with the outcome of this sale,” said Jacob Gehl of Marcus and Millichap. “The Sunwest bankruptcy sales process is not easy, and this was not an easy transaction.”