Greystone Real Estate Advisors announced itclosed the sale of a 90-unit senior living community on June 1, 2018. The assisted living and memory care community, built in 1999, is located in Palm Springs, California. An operator with local market presence purchased the property from a publicly-traded REIT. The community has strong historical occupancy and has a unique campus setting, with seven one-story buildings on one 4.2-acre site. The property consists of a main community center, four 15-unit assisted living cottages, and two 15-unit memory care cottages. Mike Garbers and Cody Tremper of Greystone Real Estate Advisors represented the seller in the transaction.
The Greystone Real Estate Advisors team leverages its extensive experience in providing expertise on the disposition or acquisition of seniors housing, including age-restricted communities, independent living, assisted living, memory care, and skilled nursing facilities.