Modesto Seniors Housing Community
Modesto Seniors Housing Community
Kidder Mathews is please to present the offering memorandum for Bethel Retirement Community.
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Capital Stack
Sponsor Equity
$6.75 M · 30%
Permanent Loan
$15.75 M · 70%
- Property Type
- Senior Housing
- Deal Type
- Acquisition
- Risk Profile
- Core PlusValue-Add
EXECUTIVE SUMMARY:
This offering is a 196-unit full-service retirement community, offering independent living and assisted living care. These operations have been serving the Modesto area for over 28 years.
Located on a large six and one-half acre, panoramic, beautifully landscaped setting, the property provides an ideal setting from which all residents can proudly call home.
The building offers large and attractive deluxe studio one-bedroom, and two-bedroom suites with Wi-Fi in each apartment. This community has been and remains the premier senior care option in the Modesto MSA. The community has a well established track record of unparalleled performance and occupancy. The June 2020 trailing 18-months occupancy was 97.4% for independent living and 98.1% for assisted living. As of December 2022 the T-3 occupancy has returned to 97.3%.
The current owner operator is looking to move on from this one of a kind generational asset and exit the industry. This is an excellent opportunity to acquire a well established turn-key community with significant additional upside available to the investor.