Pacific Northwest 4-Pack
A 4-Asset, 303-Unit Majority AL Portfolio Located in WA (3) and OR (1)
Asset Overview
Deal Points
- Care Type: 4 IL | 278 AL | 21 MC
- Units: 303
- Year Built: 1996-2002
- 5/31 Occupancy: 90.30%
- Deal Profile: Value-Add
- T12A Revenue: $17.2M
- T3A Revenue: $18.1M
- T3A NOI Margin: 13.71%
The Zett Group is pleased to offer the sale of the Pacific Northwest 4-Pack, a 4-Asset, 303-Unit Independent Living, Assisted Living, and Memory Care portfolio with three assets in Washington and one asset in Oregon.
The PNW 4-Pack, located strategically within three hours of each other allowing for efficient regional oversight, is a regional portfolio that offers cash flow from day one while also a value-add opportunity for future stakeholders. Built between 1996 and 2002, each building has been well-maintained and offers large community spaces for events and private full bathrooms in each unit for residents.
This portfolio is excelling from an occupancy and revenue standpoint. With the portfolio achieving 90%+ occupancy (as of 5/31), this portfolio has displayed consistent success with marketing and pricing strategy even in competitive markets, leading to significant revenue for each community. Although the portfolio is 55% Medicaid Census, these assets are located in states with solid Medicaid Reimbursement Rates with OR scheduled to increase on July 1, 2026. Operators will however see an opportunity to add value through increasing the Private Pay census.
From an expense standpoint, the portfolio is operating at an 86% expense margin with two WA assets being stabilized, the OR asset trending towards stabilization, and the third WA asset experiencing negative cash-flow despite impressive T3A revenue of $4.07M.
The PNW 4-Pack offers future stakeholders the attractive opportunity to receive cash flow from day one while realizing improved expense management across the portfolio. Although a portfolio sale is preferred, the sellers will consider splitting up the assets individually or in any combination.
