Emerald Gardens, located in Woodburn, Ore., recently acquired a 47-unit assisted living facility, Colonial Gardens, also in Woodburn, for $2 million.
The buyer and seller were represented by Shep Roylance and Lee Blake of JCH Consulting Group, a West Coast senior housing and care facility brokerage firm.
The facility is one of the last of the remaining Sunwest assets, a 144-community portfolio bought out Emeritus Corporation, Blackstone Real Estate Advisors, and Columbia Pacific Advisors in 2010, and is currently being operated on an interim basis by Emeritus Senior Living.
At the close of escrow, Colonial Gardens had an occupancy of 60%.
Written by Alyssa Gerace