SANTA BARBARA — Senior Living Investment Brokerage has arranged the sale of Oak Cottage of Santa Barbara, a 44-bed memory care facility in Santa Barbara.
Although the sales price was not disclosed, the $465,000-per-unit price for the facility’s 40 units translates to $18.6 million.
The 27,217-square-foot community was built in 2015 on 0.65 acres. The community was still in lease-up at the time of sale, and had an occupancy of 82 percent.
A California-based operator purchased the facility. Jason Punzel and Brad Goodsell of Senior Living Investment Brokerage negotiated the transaction on behalf of the undisclosed seller.