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INVESTMENT HIGHLIGHTS
Substantial Cashflow with Upside | Combined, the sites currently generate over $5.4 million in net operating income, with immediate rental growth anticipated from leasing out the 22 additional beds at the Tarzana site.
Significant Infrastructure Improvements | Since 2014, both sites have undergone significant infrastructure improvements and extensive floor to ceiling renovations, covering everything from the foundation to the roof.
Approval of New Beds | 22 new beds are expected to be approved in July 2024, which is set to increase capacity by over 15% at the Tarzana location.
High Demand Outweighs Supply | Increasing retirement aged population continues to drive demand for independent retirement and assisted living communities, a trend that is expected to continue.
Strong Occupancy | Both sites are consistently 95%+ occupied and are quickly backfilled if any vacancies come up.
Recent Assisted Living Waiver (ALW) Rate Increase 2024 | California Program for operators of Assisted Living communities has increased, causing an immediate positive impact to bottom line without impacting expenses.
Prime Location | Tarzana and La Jolla are high-density, wealthy Southern California real estate markets with a high barrier to entry.
Established Reputation | AvantGarde is widely recognized as the pinnacle of full-service luxury retirement communities.
