Southern ID Portfolio

The Zett Group is pleased to offer the Southern Idaho Portfolio, a 5-Location, 175-Bed Assisted Living, and Memory Care portfolio located in Southern Idaho.

Located strategically along I-84/I-86, this portfolio is a stabilized operation that is geographically clustered to allow for efficiencies to be created among the five total locations. It’s, in part, because of this cluster that the portfolio produced a T12 NOI margin of 20.8%.

Built between 1997 and 2019, each building has been carefully maintained in its existence allowing future operators the ability to focus their time and capital towards further improving financial performance of the portfolio. For expansion opportunities in the future, one asset built in 1997, has space for expansion on the lot as well as plans for expansion that have been approved. With average 2025 occupancy at this location at 97%, a 65+ population of approximately 7,400, and only 405 total licensed beds in the city, expanding could significantly increase value of this location and the portfolio overall. Two other assets also have space for expansion and the current bed count compared to overall senior population in their respective markets indicates a high likelihood of expansion efforts proving successful from a lease-up perspective.

Although the Southern ID Portfolio is stabilized, there are value-add opportunities outside of expansion. Modest occupancy gains can be achieved at the most recently built community that is 39-units, without large increases in total expenses. Also, labor expenses account for nearly 50% of total revenue. Reducing this number modestly to 45% could result in an NOI increase of $400k-$500k (based off existing labor costs in 2025 P&L).