Agapé Senior Living portfolio sells for $153.8 million

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The Agapé Senior Living portfolio has sold for $153.9 million in what is expected will be one of the largest asset sales in the southeastern United States in 2015.

A non-disclosed private equity firm emerged as the winner in a competitive bidding process, according to senior housing investment banking firm Evans Senior Investments. A national operator will operate and manage the South Carolina facilities.

The portfolio includes 10 facilities with 856 units of seniors housing and three facilities of 294 skilled nursing beds. The final purchase price was $156,424 per unit for the assisted living/memory care units and $68,027 per bed for the skilled nursing beds.

The oldest building in Agapé's portfolio was constructed in 1990, and the smallest facility is 58 units. It is one of the few independently operated portfolios of this size left in the region, and it was developed organically through internal growth and acquisitions.

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