This opportunity entails the purchase of a hotel conversion project into a retirement/assisted living residence. License was granted Dec 2015. Current occupancy is over 30%, and stabilization is projected to be reached by end of this year. The Retirement Residence has 11 floors, with 113 suites of various sizes 300 to 600 sf, and a 5000 sf restaurant to service the residents, plus other amenities. Located on 1.6 Acre, part of the lot has been cleared for further development of additional 80 units.

Posted Feb 15, 2015

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