Ray Giannini of Marcus & Millichap facilitated the sale of a county-owned skilled nursing facility in Racine, Wisconsin (about 30 miles south of Milwaukee). Purpose-built in 1986, the 200-bed facility was 85% occupied, which is above average for the SNF industry, and features a good Medicare and private pay census. But, it was operating at a loss at the time of closing. The purchase price came to $10 million, or $50,000 per bed. For more information on this deal, check out the October issue of The SeniorCare Investor early next month.
Ray’s Latest Racine Closing
