A recent sales transaction is adding to a number of deals involving senior care facilities in the Inland Empire. In the most recent deal, an entity tracing to CareTrust REIT acquired a 77-unit senior facility in San Bernardino for $10.76 million, or about $139,740 per unit, according to Vizzda records. The property was sold by an entity linked to Daniel Brazeau.
The property is located at 2985 N G St. and consists of a 43,197 square foot structure developed in 2003. The property is known as Villas at San Bernardino and offers both memory care and assisted living services, according to its website.
Villas at San Bernardino is situated just off the 210 Freeway and is also closely located to Interstate 215. The facility is largely surrounded by single family residences with various commercial buildings also close by.
The buyer in the transaction, CareTrust REIT, is headquartered in San Clemente, Calif. And specializes in the acquisition and leasing of senior housing and healthcare properties across the United States. Its current portfolio consists of 206 properties with 22,533 units in 25 states.
The Inland Empire has seen other similar deals in the past few months.
The Registry previously reported that the 150-bed Arlington Riverside Senior Community in Riverside traded in a $19.4 million deal, or approximately $293 per square foot. An entity tracing to Simcha Mandelbaum purchased the property, which is located at 4609 Arlington Ave., from an entity linked to Phuong Pham.
In another transaction, a 17-unit senior facility was sold in Ontario for $10.44 million. That property was acquired by entities linked to Fuqiang Liu, which acquired 66 percent ownership in the property, and Shuangfeng Liu & Hao Hong, which acquired 34 percent ownership of the property, according to a previous report from The Registry. The selling entity is linked to Ben Ellenberg. Totaling 10,080 square feet, the property is located at 718 East Maitland St.
