DETROIT — Marcus & Millichap’s Knapp Group has brokered the sale of a 40-bed assisted living and memory care community in Southeast Michigan.
A family trust sold the 24,900-square-foot campus for $6.5 million. The buyer was a partnership between a local investment group and a local operator.
Situated on five acres, the property was built in 1991 and has room for expansion. The specific name and location of the community were not disclosed. The community is unique in that 25 percent of residents suffer from traumatic brain injuries, which is paid through Michigan’s mandatory no-fault insurance program.
Jim Knapp and Justin Knapp were lead agents on the deal.