Hotel Conversion to Assisted Living Facility Review

[Jaden Ghylin]

We are looking to convert a 60 unit hotel to assisted living and so far it looks like this property will work.  The only concern is that it is between 3 cities (Albertville, Monticello, Otsego, MN) about 5-10 minutes between each in a Suburban area of the Minneapolis metro.  The area is growing and housing developments are going up, but this hotel is definitely not "in-town".  It is on 33 acres and has a lot of features that make it attractive for assisted living including views of the Mississippi river valley, 33 acres of land with walking path, indoor pool, beautiful flower beds and landscaping.  It's a very beautiful, natural setting with deer, turkeys, birds, and butterflies on the property.    With all of that said, our concern is that it is not in a town.  Is that a deal killer for assisted living?  I'd appreciate any insights you may have.

http://www.loopnet.com/Listing/19761224/10990-95th...

Regards,

-Jaden