| The CB Richard Ellis Senior Housing Services was engaged by AIMCO Properties, based in Denver, Colorado, the largest apartment REIT in the country, to tailor a professional marketing process to sell two upscale independent and assisted living senior housing assets, Casa Del Mar and Hamilton House located in South Florida. The sale of these two assets also included the sale of a home health agency business that serviced the two communities. The challenge for the Senior Housing team was not only to properly evaluate the communities to achieve the highest sales price possible and conduct a complete and thorough sales process in a short time frame, but also to establish a valuation on a related business and package it into the sale of the portfolio. This business valuation is not customarily a part of a senior housing and long term care real estate transaction. |
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| The CB Richard Ellis Senior Housing Services Team utilized resources in the health care industry to creatively evaluate the operating business, as well as customizing a real estate transaction to include an operating business, which was not within the owners’ real of expertise. The team was able to sell both the communities, including the agency for $69,600,000, or $136,289 per unit, to Classic Residence by Hyatt, based in Chicago, Illinois. The team was also able to orchestrate an expedited due diligence and achieve a year-end closing to benefit the Seller. |
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