Healthcare

Independent Living in Columbia MSA

Columbia, South Carolina United States
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2019
Building Area
Land Area ()
Number of units 187

Property Description

The subject opportunity is a 187-unit independent living community located in the rapidly growing Columbia, South Carolina MSA. The 8.39-acre site is adjacent to a 300-acre lifestyle retail center with more than 50 stores and nearly 300,000 square feet of leasable area. Housing values and income levels within the seven-mile radius are some of the highest in the MSA, and the 75+ population is forecast to grow at a strong 6.2% annually through 2025. Built in 2019, the four-story building is oriented around a central courtyard. Amenities include a resort-style pool, putting green, movie theater, and multiple dining venues.

Investment Highlights

  • Strong Regional Economy – Despite the COVID-19 pandemic, Richland County recorded its best year ever for economic development in 2020, with eight new or expanding companies bringing 1,377 new jobs to the county.
  • Growing Demand Base – Within the seven-mile Primary Market Area, the 65+ population is forecast to grow by 3,958 between 2020 and 2025. The 75+ and 85+ populations are also forecast to see strong growth.
  • Potential Upside Through Conversion to Active Adult – Buyers who are bullish on the active adult market have the option to begin “unbundling” pricing and convert the property to a limited service Active Adult community over time. This sector is attracting significant capital, and capitalization rates for active adult are lower than independent living.
  • Attractive Pricing Relative to Replacement Costs – Although being offered to the market unpriced, it is anticipated that the acquisition cost will be below the current replacement cost of the building.
  • Strong Potential Returns – This offering provides prospective buyers the opportunity to acquire a high-quality building in a growing market at pricing below replacement cost. By aggressively completing the lease-up, the winning buyer can achieve a high rate of return on invested capital.
Last Updated Date: 01 Jul 2021
Charles Bissell
Charles Bissell
Managing Director, Capital Markets
Cody Tremper
Cody Tremper
Managing Director, Capital Markets

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Last Updated Date: 01 Jul 2021

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