Avison Young Arranges Sale of Assisted Living Community in Maryland

12/15/17

Quail Run Assisted Living in Baltimore County Sells for $6 Million

Avison Young announced today that it has arranged the sale of Quail Run Assisted Living, a 64-unit community in Perry Hall, Md.

Birchwood Health Care Properties purchased the assisted living-memory care community at 9900 Walther Boulevard for $6 million. Built in 1999, Quail Run includes four 16-unit buildings on 3.2 acres.

Representing the seller were Avison Young’s Dan Baker, vice president, and Jim Kornick, principal, who were able to generate nine offers from REITs, PE firms and regional operators.

“The seller of the community was very pleased with the transaction,” Baker said.

Located in the affluent Baltimore suburb of Perry Hall, Quail Run is located about six miles from Franklin Square Hospital, one of the busiest in the area.

The community includes 64 studios and totals 38,750 square feet. About 80 percent of the units – all private rooms -- are currently occupied.

The ownership invested more than $200,000 in capital expenditures over the past three years. But the community had been underperforming.

“This was a true value-add deal with tremendous upside for the buyer,” Baker said.

The owner and out-of-state operator were both exiting the senior-housing industry, with Quail Run as their last remaining asset.

After purchasing the community, Birchwood Health Care Properties hired Charter Senior Living to operate it.

About Avison Young

Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada. Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,600 real estate professionals in 82 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.

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