50
MOOSIC, Pa. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Oakwood Terrace, a 35-unit memory care community in the Scranton suburb of Moosic, for $8.5 million.
Oakwood Terrace was built in 1996 and was renovated in 2006. The community features a stabilized occupancy over 95 percent.
Blueprint worked on behalf of the seller, a nonprofit organization seeking to divest its only seniors housing asset in the region. The buyer was a New York-based owner/operator making its first seniors housing acquisition in Pennsylvania.
The purchase price equates to $242,857 per unit and represents a capitalization rate of approximately 8 percent. Michael Segal was the lead advisor on the transaction.