Christian Care Portfolio

Plains Commercial has been retained as the exclusive marketing adviser for the sale of the Christian Care Portfolio (the Portfolio) located in Muskegon, Michigan. Offers will be evaluated based on price, terms, and investor qualifications.

BIDDING IS OPEN UNTIL APRIL 12TH, 2024.

The Portfolio offers investors an opportunity to acquire a value-add two building portfolio offering all levels of care with assisted living, memory care, and skilled nursing. The Portfolio is currently owned and operated by a faith based non-profit that has experienced census and operational struggles since the COVID pandemic. Both buildings are currently struggling from low census and are in need of operational changes. The Portfolio is offered well below replacement cost, offering investors significant upside through operational changes, census recovery, and expense controls. 

Built in 1992, the assisted living building has 3 stories, which offers investors multiple flexible care and operational models that can be tailored to the residents in each floor. The assisted living building currently has approximately 50 residents in-house, offering significant upside through lease-up.  

The skilled nursing and memory care building is located approximately 2.5 miles away from the assisted living building. Built in 2012, the facility has a class "A" physical plant and has been well maintained. With 70 resident rooms, the facility has a room for each licensed bed. Historically the memory care wing has cash-flowed. However, recently the skilled nursing side of the building has suffered from low census with a small Medicare resident population offering significant upside to seasoned skilled nursing operators.   

Located in Muskegon, the Portfolio is near hospitals, skilled nursing facilities, major retail developments, and major residential developments. Located on Lake Michigan, Muskegon offers attractive options for retirees with a large population base that attracts major retailers and healthcare providers among other amenities. Additionally, Muskegon is approximately a 45 minute drive from Grand Rapids, offering convenient access for any travel needs.