$19.5 Million Assisted Living, Memory Care Community Sold In Beaumont, TX
This transaction involves a Class A Assisted Living Facility located in Beaumont, Texas. Pelican Bay Assisted Living, built in 2012, features 81 licensed units and 75 operational units. With 25 currently used for Memory Care and 50 for Assisted Living, the remaining units of Pelican Bay contain medical supplies, therapy equipment, records and a showroom for prospective residents. The 61,175 SF facility sits on a 4.38 acre campus.
The community sold for $19,500,000 which was $240,741 per unit.
Beaumont is the seat of Jefferson County, located in the southeast region of the state. Pelican Bay Assisted Living is approximately 30 miles west of the Louisiana border and 85 miles east of Houston. The community maintained an average census of 88% prior to the marketing period.
The Seller is a local family owner/operator that built and ran this facility since its opening. The Buyer is a healthcare REIT that entered into a joint venture with an operator with several facilities in Texas.
According to Matthew Alley, “This transaction allowed for the independent owner/operator to exit the seniors housing industry. This deal showed the benefits of SLIB’s national reach as the purchaser is a healthcare REIT located in California who partnered with an operator out of Maryland. This partnership closed the transaction in less than two months from LOI to closing.”
Matthew Alley, Bradley Clousing and Patrick Burke of Senior Living Investment Brokerage handled 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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