Local Operator Buys Washington Seniors Housing Community

Coventry House, a 64-unit seniors housing community in Othello, WA, was acquired by a Washington-based owner-operator with more than 10 seniors housing communities in an all-cash deal. The price was not disclosed.

Built in 2003, the 50,456 sf property sits on 3.85 acres at 430 N. Second Ave., near Othello Community Hospital, Lions Park and downtown Othello. The property consists of 48 assisted living units and 16 independent living cottage units. It includes assisted living accommodations and independent living cottages with one- and two-bedroom floor plans, full kitchens and garages.

Michael Mooney, Nick Stahler, Chad Mundy and Joel Deis with Marcus & Millichap represented the seller, a longtime owner-operator preparing for retirement.

“This transaction provided the buyer with an opportunity to acquire an established seniors housing community with potential for occupancy growth,” said Mooney, director investments. “As the only assisted living community within a 20-mile radius, Coventry House serves an important role in the Othello area.”