Brad Clousing of Senior Living Investment Brokerage sold a type of skilled nursing campus that does not come on the market very often. Typical of the Green House configuration, the campus consists of 12 separate cottages with 12 private rooms in each cottage, making for a more home-like environment. Occupancy was at 90%, but the property, located in Greer, South Carolina was operating at a loss on $15.2 million of revenues. The seller was a not-for-profit hospital system, and the price was $10.1 million, or $70,100 per bed, reflecting the age (under 10 years) the cash flow potential.
Green House Sale
