JCH Successfully Negotiates Lease of 68-Unit/120 Bed Facility in Modesto, CA
JCH Senior Housing Investment Brokerage is pleased to announce the successful negotiation of a NNN lease of a 68-unit/120-bed Assisted Living and Memory Care Facility in Stanislaus County CA.
The team at JCH led a discreet and focused marketing campaign for the landlords, a family-owned owner/operator who were looking to retire from operations. Throughout the pandemic, the facility was struggling to maintain census and keep up with new requirements from licensing. Ultimately leading to a licensing revocation hearing. JCH used their detailed knowledge of regional owner/operators to conduct a very well-targeted pursuit for the perfect lessee. A local ARF operator based in the marketplace, seeking to convert the building to an Adult Residential Facility, was the successful bidder. JCH remained active and engaged with the landlord, lessee, and licensing throughout the negotiation process. The lease rate was $200,000 per bed.
Jim Hazzard, and Cindy Hazzard handled the transaction process.
About JCH Consulting Group
JCH Consulting Group is a full-service real estate brokerage firm with the singular focus on the long-term care industry. JCH brokers the complete spectrum of Senior Care facilities, including Skilled Nursing, Assisted Living, Memory Care, CCRC and Independent Living, as well as Adult Residential Facilities, Hospice and Adult Day Care Facilities. For more information, contact Jim Hazzard 714-463-1677 Jim@theJCHgroup.com; or Cindy Hazzard 714-463-1672; Cindy@theJCHgroup.com.