SOLD: Two New Assisted Living Facilities – Richmond & Williamsburg, VA via Bankruptcy Auction

Bankruptcy Auction
Bid Deadline: August 1, 2016
Auction Date: August 3, 2016

Situation Overview

Keen-Summit Capital Partners LLC has been engaged by New Dawn Assisted Living Company, LLC, as its exclusive real estate advisor for the sale of two new assisted living facilities in Virginia and 2.48 Acres of vacant land in Fort Collins, CO.

The Williamsburg and Richmond Virginia properties are both newly constructed assisted living facilities. They are nearly identical in design and layout. Each property consists of three, one-story, load-bearing Class D structures, designed specifically as a memory care facility, with each structure containing 16 units for a total of 48 units at each property.

The 2.48 acres of developable vacant land in Fort Collins, CO is zoned mixed use, surrounded by residential development, neighborhood retail and restaurants.

The sale of these properties are subject to approval by the Bankruptcy Court.

Property Highlights:

10601 Barbara Lane, Richmond, VA 23233

Brand new facility, substantially completed in 2015
3 one-story facilities totaling 28,620 sq. ft. on 5.47 +/- acres
Each structure contains 16 apartments with private bathrooms. (48 units total)

1807 Jamestown Road, Williamsburg, VA 23185

Brand new facility, substantially completed in 2015
3 one-story facilities totaling 28,620 sq. ft. on 6.1 +/- acres
Each structure contains 16 apartments with private bathrooms. (48 units total)

Vacant Lot in Fort Collins, CO

2.48 Acres of vacant land
Located at the intersections of Iowa Drive & Limon Drive and Kansas Drive & Limon Drive
Zoning: MMN – Medium Mixed Use, which allows for up to 50-unti multifamily
Neighborhood: surrounded by residential developments, neighborhood retail and restaurants

New Dawn – Flyer_Court Approved Sale_7-20-2016