Property
Sooner Station offers Independent Living (101 units), Assisted Living (64 units) and Memory Care (24), with a total of 189 units and 196 operating beds. The building is 4-stories and totals 205,798 square feet. The site contains a total of 7.88 acres. The construction was completed in 2022 and the first residents moved in on June 1, 2022. The construction quality is rated as excellent by the appraiser. Overall, the project’s appeal to the market is considered above average. Sooner Station is operated by Integral Senior Living (ISL) and is in the later stages of lease-up. ISL is a growing owner/operator of assisted living communities, headquartered in Carlsbad, California. Situated on the north side of the popular mixed-use development University North Park, residents benefit from optimal medical care. Among the offers of the surrounding area include Norman Regional HealthPlex Heart Hospital, Medical Park West Rehabilitation and Skilled Care Center as well as Norman Regional Health System. A strong connection to the University of Oklahoma makes the residence also very attractive for former graduates and promotes the social network for all residents, ensuring that residents can spend a satisfying life. The project is part of a large mixed-use development known as University North Park.
Project in Detail
Key data
- Type of use
- Senior Living
- Location
- 3148 24th Avenue Northwest,
Norman, Cleveland County,
Oklahoma 73069 - Construction
- 2022
- Opening
- 2022
- Operator
- Integral Senior Living (ISL)
Key Figures (in USD)
- Investment volume
46,500,000
- Estimated IRR p.a.
13,0%