SLIB Arranges $11.2M Sale of Two-Property Portfolio in Illinois

Keystone Gardens Keystone Gardens

DECATUR, Ill. — Senior Living Investment Brokerage has arranged the sale of Keystone Gardens and Keystone Meadows, both seniors housing communities in Decatur, for $11.2 million.

The buyer was a regional owner based in Michigan, with three other communities in the Midwest. The seller, also based in Michigan, was seeking to divest its only properties in Illinois.

Keystone Gardens is a 50-unit independent living community built in 2001. The facility is approximately 62,218 square feet and sits on 4.5 acres.

Keystone Meadows is a 60-unit assisted living community built in 1999. It totals is approximately 45,498 square feet and sits on 3.6 acres. The portfolio was 72 percent occupied at the time of the sale.

Ryan Saul of Senior Living Investment Brokerage facilitated the sale.

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