The Courtyards at Berne Village was purchased in September 2006. TJM was able to add to Memory Impaired program license and renovated 30 of the Independent Living units to increase rents. By 2009 the NOI was up to $1,285,00 which yielded a 31% operating margin. The initial occupancy at the community was 54%. TJM was able to significantly increase occupancy and rents after taking ownership.
2006 Purchase Price: $14,500,000 2012 Sale Price: $19,110,483