BearRock Investments LLC
Silvercreek Residential
31 E. McKercher Boulevard Hailey (Sun Valley), Idaho
~ 3 Year Hold | Targeting 14% IRR
Active
Purchased former senior living/memory care facility and converted to workforce housing - a badly needed resource in the Sun Valley/Ketchum/Hailey Idaho area. Prior to closing, master leased project to Blaine County Housing Authority on a five-year basis with one, 5-year option to renew.
Project Type | Source | Size | Acquisition Price | Sale Price |
|---|---|---|---|---|
Residential | Industry relationship, on the market | 23,144 square feet on 2.23 acres | $6,400,000 | Not yet sold |
The project is a former assisted living / memory care facility in two "mirror image" buildings constructed in 2017. Partnership has converted the project to workforce housing with a master lease to Blaine County Housing Authority on a five-year basis with one, five-year renewal. Affordable workforce housing is an acute problem in the Sun Valley/Ketchum/Hailey area and the project provides 32 safe and affordable workforce housing apartments. The project provides a solid return to the investors while benefiting the community.
