Wenatchee, Washington, April 16, 2018. JCH Senior Housing Investment Brokerage is pleased to announce the successful sale of Riverwest Senior Living for $7,400,000. The asset, totaling 65 units, consists of both Assisted Living and Independent Living units. Riverwest is located in a growing retirement community of Wenatchee in Central Washington, about 95 miles from Seattle.
The sellers, senior housing industry veterans, engaged JCH to confidentially dispose of the asset. JCH conducted a directed marketing plan on behalf of the ownership group, utilizing their expert knowledge of the regional market, and more specifically, of new entrants in the space.
JCH discreetly sourced and selected prospective buyers. After multiple competitive offers were received and reviewed, a 1031 exchange buyer from the Pacific Northwest was chosen. JCH advised the seller to make the final selection based upon the optimal combination of transaction price and execution certainty. JCH not only perfected the 1031 exchange for the buyer, they identified and placed a lessee for the new owner−thus enabling the buyer to exceed their investment objectives. Jim Hazzard and Nick Stahler were the lead agents on the transaction.
About JCH Senior Housing Investment Brokerage
JCH Senior Housing Investment Brokerage is a full service real estate brokerage firm with a singular focus on the long term care industry. JCH brokers the complete spectrum of facilities, including Independent Living, Assisted Living, Skilled Nursing, CCRC, and Memory Care. For more information, contact (Jim Hazzard [714-463-1677] or Nick Stahler [714-463-1663]). www.thejchgroup.com