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Tue, Feb 19
A Compendium of Property & Capital News
Tue
Feb 19
A Compendium of Property & Capital News

IPA Completes Sale of New Hampshire Seniors Care Facility; Rebranded American House

January 08, 2019
American House, Keene NH

KEENE, N.HInstitutional Property Advisors (IPA), a division of Marcus & Millichap, completed the exclusive sales assignment of Bentley Commons at Keene, a 109-unit, 144-bed independent living and assisted living facility. The property has been renamed American House Keene.

“With occupancy near 100 percent, competitive rents and a 30-plus percent operating margin make the facility a strong performer,” said Mark Myers, IPA executive managing director.

“We were able to find an inconspicuous Midwestern buyer for this New England market that was looking to establish a region with Bentley Commons,” added Joshua Jandris, IPA senior managing director.

Jandris, Myers and Michael Cimino, Marcus & Millichap senior associate, represented the seller, a New England partnership and procured the buyer, a Michigan based owner and operator of Seniors Housing and Multi-family. Jennifer Athas is Marcus & Millichap’s broker of record in New Hampshire.

Opened in 2008, a portion of Bentley Commons is a renovated mill building and the rest is new construction. The facility has 42 independent living and 67 assisted living units.

Michael Cimino Joshua Jandris Mark Meyers Jennifer Athas