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Transaction teamwork - The SeniorCare Investor Dealmakers Forum, Senior Housing M&A

Transaction teamwork

by | May 13, 2016 8:31 am | Acquisitions

Marcus & Millichap sent a veritable army into Norwood, Ohio to arrange the sale of two skilled nursing facilities. Mark Myers, Joshua Jandris and Charles Hilding, plus Stan Folk, Joel Dumes and Steve Anevski out of M&M’s Cincinnati office and Peyton Stanforth out of the Chicago O’Hare office, represented the seller, a private family investment group, in the transaction. The lease was ending for the tenant operator, which was interested in building new facilities. So, Messrs. Myers, Jandris, Hilding and Stanforth procured the buyer, a real estate investment trust with a large presence in the region that leased the facilities to a new third-party tenant. Built 25 years ago, one of the facilities contained a mix of 90 skilled nursing beds and 68 assisted living beds, while the other facility was built in 1965 and expanded in 1989 to feature 55 skilled nursing beds. Both properties combined sold for $14.5 million, or $68,075 per bed.