Forest Oak of Spring Hill was purchased in October of 2006 for $6,985,000. At purchase the property had 125 residents and 77 of the 80 units occupied. After the purchase, TJM renovated the entire facility including flooring, furniture, and fixtures. By 2009 the NOI was up to $1,164,000 which yielded a 37% operating margin.
2006 Purchase Price: $6,985,000 2012 Sale Price: $8,667,299