TJM purchased Spring Haven Retirement in 2004 for $10,500,000. The census at the time of purchase 82% and year prior NOI was at $1,008,400. By 2009 the NOI was up to $2,636,000 which yielded a 36% operating margin.

2004 Purchase Price: $10,500,000
2012 Sale Price: $36,010,614