$25 Million Four-Property Seniors Housing Portfolio Sold by Marcus Millichap in Marshall, IL

  

Villas at Holly Brook, Marshall, IL

  

Mark Myers

 CHICAGO, March 27, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of a four-property seniors housing  portfolio in Illinois.

 The total sales price for all four properties is $25,024,084 million or $135,265 per unit.

            Mark Myers, a senior vice president investments in Marcus & Millichap’s Chicago O’Hare office, along with Alex Blagojevich, a vice president investments in the firm’s Tampa office and David Gaines, a vice president investments in the Chicago Downtown office of Marcus & Millichap, represented the seller, a private investor/owner.

 The buyer is American Realty Capital and the operator for the buyer is Meridian Senior Living.

            The properties are:

·         The Villas at Holly Brook, Effingham, IL

·         The Villas at Holly Brook, Herrin, IL

·         The Villas at Holly Brook, Marshall, IL

·         The Villas at Holly Brook, Shelbyville, IL

Alex Blagojevich

            “The seniors housing assets in this portfolio are all newly constructed purpose-built assisted living facilities,” says Myers. “The Villas of Holly Brook are the only assisted living facilities in their respective cities licensed by the state of Illinois.”

            The Villas of Holly Brook properties were all constructed within the past five years and are all 35,000-square-foot or larger one-story buildings with approximately 46 units situated on at least two acres. 

The facilities typically feature efficiency studios, one-bedroom apartments, two-bedroom units and deluxe corner suites.

            The buildings have sprinkler systems and each unit is equipped with a 24-hour centrally monitored emergency call system, a walk-in shower with grab bars, a walk-in closet and private patio. 

The facilities’ common areas feature an on-site hair salon, central dining room with large flat-screen HDTV, wellness and fitness center, library, spa room, billiards room, enclosed courtyard with outdoor fireplace and sitting area and covered patio area. Some of the facilities have an outdoor fireplace and sitting area and a full-service theatre room.

For a complete copy of the company’s news release, please contact:

Gina Relva,

Public Relations Manager

(925) 953-1716