Independent Living Facility Sold
178 ILF Units
Closed: February 28th, 2020
SLIB arranged the $12.45M value-add sale of an Independent Living community located in Arlington, Texas. Featuring 178 total independent living units, Greenfield Residences of Arlington is comprised of 24 studios, 130 one bedroom and 24 two bedroom units. The 2002-built community shows well, encompassing +/- 130,000 SF on a spacious +/- 5.75 acre lot. The community was 67% occupied at commencement of marketing.
“This transaction allowed for the operator to exit the only facility that it operated in Texas. This deal showed the benefits of Senior Living’s local focus as the purchaser is an owner-operator that has a smaller platform in the DFW area. We generated six offers and the transaction closed within three months of the signing of the PSA.”-Matthew Alley, Managing Director
Greenfield Residences of Arlington is located in Tarrant County, which is located in the Dallas / Fort Worth area. The community is approximately 24 miles west of downtown Dallas and 20 miles east of downtown Fort Worth. Major roadways providing access to the community include Interstate 20, Interstate 30 and the Texas 360 Toll Road.
The Seller is a publicly-traded investment company, and the Buyer is an investment group based in the Dallas / Fort Worth area. The Buyer group looks forward to investing in this community and stabilizing internal operations to build census and add further value to the community.
Matthew Alley of Senior Living Investment Brokerage secured a buyer for the transaction.
For more information on the above transaction, or to inquire about the value of your Senior Living Communities, please contact Matthew Alley.
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