Greystone Real Estate Advisors Close Sale on $80 Million Oakmont Senior Living Portfolio
March 25, 2015
Greystone announced its Real Estate Advisors group has closed the $80 million sale of two properties owned by Oakmont Senior Living.
Oakmont of San Antonio Heights in Upland, CA and Oakmont of Folsom in Folsom, CA were sold to Health Care REIT, Inc. on February 27, 2015.
Oakmont of San Antonio Heights is a newly constructed Class A assisted living and memory care community in the Riverside-San Bernardino metropolitan area comprising 79 units. Oakmont of San Antonio Heights offers abundant common space, high-end finishes, and upscale amenities including a bistro, billiards room, movie theater, pet park and on-site physician’s office. The units feature luxury finishes including crown molding, full kitchens in one- and two-bedroom units, and kitchenettes in studios.
Oakmont of Folsom is a brand new Class A assisted living and memory care community in the Sacramento metropolitan area comprising 66 units. The property contains indoor and outdoor restaurant-style dining, bistro, library, movie theater, fitness center and salon and day spa. With five different assisted living floor plans, Oakmont of Folsom also offers three different memory care floor plans.
Both properties provide excellent access to healthcare options, shopping and dining outlets, and residential areas, and are the newest communities in their respective primary market areas.
Mike Garbers, a Managing Director of Greystone Real Estate Advisors, led the sale on behalf of Oakmont. “These beautiful, new Class A properties will make a wonderful addition to any seniors housing portfolio,” said Garbers.
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, memory care and assisted living facilities. The group is currently working to close the sale of several properties in the age-restricted category.