JUST SOLD! In Kern River Valley
6-Property Skilled Nursing Portfolio
JCH Consulting Group closes sale of Kern River Valley Leaseholds in Central California
California, September 30, 2016. JCH Consulting Group is pleased to announce the successful sale of a 6-property skilled nursing portfolio located in Central California. Built between 1950 and 1975, the facilities ranged from 42 thru 99 beds. The average occupancy rate at the time of closing was 80%. JCH successfully worked hand in hand with Marcus and Millichap, the listing broker, to successfully facilitate a complex transaction.
Nick Stahler was the lead agent on the transaction
JUST SOLD! $825,000
Adult Day Care in Campbell, CA
JCH Consulting Group closes sale of an Adult Day Care business in Campbell, California
California, September 30, 2016. JCH Consulting Group is pleased to announce the successful sale of an Adult Day Care business in Campbell California. The business was sold for $825,000, with an occupancy rate of 85% at closing. The sales price represented a 3X multiple of the trailing twelve month net operating income. The seller was a single asset owner/operator that’s plans on retiring from the business. The buyer is a new owner/operator entering the space.
Nick Stahler was the lead agent on the transaction
JUST SOLD! $6,640,000
Ocean View Assisted Living & Memory Care Facilities
JCH Consulting Group closes sale of Assisted Living & Memory Care in 45 days from initial offer.
California, July 1, 2016. JCH Consulting Group is pleased to announce the successful sale of a Assisted Living & Memory Care facility located in Hawaii. Built in 1997 and completely renovated in 2015, the 126 unit facility sold for $6,640,000.00, equating to $52,698.00 per unit. The occupancy rate at the time of closing was 65%. JCH expeditiously executed the deal, which took only 45 days from acceptance of the letter of intent to close, with a marketing period of 6 months.
Lee Blake was the lead agent on the transaction
JUST SOLD! $18,900,000
Assisted Living & Memory Care Facilities
California, February 5, 2016 JCH Consulting Group is pleased to announce the successful sale transactions totaling $18,900,000.00 consisting of two specialized assisted living and memory care facilities located in Central and Southern California. Totaling 163 beds, both facilities focus on providing high-acuity memory care and assisted living services within a secured setting.
The San Bernardino County facility, constructed in 2002, includes 86 units, 95 licensed beds of which 24 are memory care units. The sales price was $13,600,000.00, equating to $158,140 per unit. The occupancy rate was 86% at the time of the closing and helped the seller achieve a sales price well above the appraised value. The purchaser was a national senior housing owner/operator, and the seller was a privately held single asset owner/operator.
The San Joaquin County facility, constructed in 1970, is comprised of 44 units with 68 licensed beds and an occupancy rate of 69%.The sales price was $5,300,000, equating to $120,455 per unit. The purchaser was a real estate investment fund with a majority of funding coming directly from China, the purchaser plans on investing $1,500,000 in improvements to the physical plant. The seller was a privately-held single asset owner/operator. This transaction sold well above the appraised value as well.
JCH executed the transactions expeditiously and seamlessly having conducted an exclusive and brief marketing period of only 30 days. The process yielded multiple highly competitive offers from qualified prospects with several offers at or exceeding the initial offering price.
Jim Hazzard and Nick Stahler were the lead agents on both transactions.
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