Good and hard work is usually rewarded in this industry, and the single-asset private owner of an historically five-star rated skilled nursing facility in Lansdale, Pennsylvania is certainly retiring in style with the facility’s sale. Though the purchase price was undisclosed, we hear it sold for one of the highest prices per bed for a single-facility in Pennsylvania. Built in 1980 on just under six acres, the property was very well maintained and featured seven private rooms, 51 semi-private rooms and 24 three-bed wards. And in addition to a 96% occupancy, it also had strong cash flow. That operational success, combined with amenities like a business office, conference room, country kitchen, therapy gym, two courtyards and a lounge with lake views, drove the price up. A New Jersey-based owner/operator, with plans to grow their presence in Pennsylvania, was the buyer, and Joshua Jandris, Mark Myers, Charles Hilding and Andrew Hilding of Marcus & Millichap represented the seller in the transaction.
Pay up in Pennsylvania
