Granite Investment Group (Irvine, Calif.) has acquired a 48-unit assisted living comuntiy in Shawnee, Kan.
The 32,388-square-foot building is situated on 4 acres of land with availability for expansion. It features one- and two-bedroom units, as well as a landscaped courtyard.
Additional community amenities include a beauty shop, activity room, hearth room and television lounge, laundry area, dining room and commercial kitchen with a head chef on staff.
The transaction, completed at an all-in cap rate of approximately 8.4 percent, features a long-term bond net lease that expires in 2030. Blueprint Healthcare Real Estate Advisors represented the seller in the transaction. HUD bridge financing was provided by GE Capital, Healthcare Financial Services.
