Sherman & Roylance Represents Buyer in $10M Northern California Senior Housing Portfolio Sale
Sherman & Roylance is pleased to announce the successful representation of a growing regional assisted living owner/operator in the acquisition of a three-facility senior housing portfolio in Northern California. The transaction, totaling $10 million at $48,780 per unit, underscores our expertise in navigating complex senior housing acquisitions and delivering results for our clients.
A Strategic Investment in Senior Housing
The portfolio consists of three assisted living, memory care, and independent living facilities spanning 205 units and 242 licensed beds across Northern California’s tertiary markets. Originally developed in 2001 and 2002, these Class B assets presented an attractive opportunity for an experienced regional operator looking to expand their footprint.
Navigating a Complex Sale
The seller, represented by BluePrint, was a nationally recognized senior housing receiver appointed after the original owner’s loan matured without the ability to refinance. As a result, the lender required a structured sale process to ensure a smooth transition.
Sherman & Roylance, led by Shep Roylance and John Sherman, was retained by the buyer to secure the best possible outcome in this highly competitive process. Through a targeted strategy, we identified the optimal investment scenario, ultimately securing the highest bid and ensuring a seamless, all-cash closing with no financing contingencies.
Key Portfolio Highlights
- Three-Class B AL/MC/IL Communities: Well-established facilities with strong market positioning.
- Occupancy Strength: Facilities were 71%, 89%, and 84% occupied at the time of sale.
- Prime Northern California Locations: Situated in tertiary markets with growing senior demand.
- Distressed Seller Circumstances: Lender-appointed receiver oversaw the sale due to loan maturity.
- All-Cash Closing: Buyer successfully closed with no financing contingencies.
Sherman & Roylance: Your Trusted Senior Housing Advisors
This transaction highlights Sherman & Roylance’s ability to navigate intricate senior housing acquisitions, secure competitive bids, and execute efficient closings in lender-driven sales. Our deep industry knowledge, strategic buyer representation, and commitment to maximizing value for our clients set us apart in the senior housing brokerage space.