Dealmaker: Colliers Completes $24M Senior Care Sale
Colliers Seniors Housing Practice sold two senior care communities in Pennsylvania’s Lehigh Valley in transactions totaling $24 million.
Bob Gaines, Senior Vice President with Colliers, represented both buyer and seller in the investment sale of Victoria’s Place and Mountain View.
Victoria’s Place in metro Allentown’s Upper Macungie Township is a 59,500-square-foot building constructed in 2020. It was designed, built and furnished as a personal care community with 80 licensed one-bedroom and studio apartments and the potential for 30 more.
Mountain View in the South Allentown neighborhood is a 54,700-square-foot two-story community licensed for 115 beds. It dates to 1987.
“Lehigh Valley is one of Pennsylvania’s fastest-growing communities,” Gaines said. “Colliers’ demand analysis shows the market to contain a high amount of financially qualified adult children and underserved by as many as 3,000 beds. Astute investors clearly saw the opportunity these investments present and the upside potential to increase beds at Victoria’s Place.”