Richmond VA Assited Living Facility
Category: Senior Housing - RIDEA
Richmond VA Assisted Living Facility is a four-story, approximately 210,000-square-foot assisted living facility located in the Richmond suburb of North Chesterfield, Virginia. Built in 2009, the property consists of 109 independent living units, 59 assisted living units and 18 memory care units. The facility was 93 percent leased at the time of acquisition and will continue to be operated by an affiliate of the seller, Harmony Senior Services LLC, on behalf of Griffin-American Healthcare REIT III under a RIDEA structure, which allows for the REIT to participate in both the rental and operational cash flow of the facility.
Richmond VA Assisted Living Facility was acquired from Caba SH Investors, LLC, and Caba Operations, LLC, unaffiliated third parties represented by Tim Cobb of Blueprint Healthcare Real Estate Advisors.