Commercial Hospitality Investment Opportunity
Price
$38,700,000
Off-Market Listing: New Forest Haven Assisted Living Facility
Location: 5034 Newforest Dr, San Antonio, TX 78229
Property Overview: New Forest Haven Assisted Living Facility is a prime investment opportunity for a buyer looking to acquire a property with significant upside potential. Purchased in December 2022, the facility underwent extensive renovations from March 2023 through April 2024. The heavy lifting to update the property has been completed, positioning it perfectly for continued value addition through additional upgrades such as premium units and covered parking.
Financial Highlights: Attached are the current financials for the facility, including:
T-12 Financial P&L's
Year to Date P&L’s
May 2024 Rent Roll
April 2024 Rent Roll
https://drive.google.com/drive/folders/1xjCv9YtssKGzBHcitYWYm00Qz9IiGDPf?usp=share_link
Occupancy Status:
Assisted Living: 100% occupied with a waiting list.
Independent Living: Approximately 60% occupied and steadily increasing.
The property has benefited from the engagement of two sales and marketing consultants working with our operator to expedite the lease-up and stabilization process, which is showing very positive results.
Investment Details: The property is offered at a discounted price, reflecting its current lease-up phase, providing substantial upside once stabilized.
Unit Breakdown and Pricing:
Assisted Living: 28 units at $276,429 per door
Independent Living: 210 units at $146,000 per door
Total Asking Price: $38,700,000
Key Features:
Completed major renovations
Significant value-add opportunities remaining
Strong occupancy rates in Assisted Living
Positive lease-up trend in Independent Living
Engaged sales and marketing consultants to expedite stabilization
Offer Submission: Please submit all offers directly to investments@promiselandrealtyllc.com.
Marketing Restrictions: Please note that no one is allowed to market this property unless they are a verified member of TEAM PROMISELAND.
Don't miss out on this opportunity to acquire a high-potential asset at a significant discount, with great upside potential as the property stabilizes.
Property Map
"AMERICA'S #1 SOURCE FOR OFF MARKET PROPERTIES"
PROMISE LAND REALTY, LLC
Work: 864-762-2509
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. Realtors add your fee on top.
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