Senior Living Investment Brokerage flocked to Iowa (no, not to launch a bid for the Presidency) to sell a 56-bed skilled nursing facility in West Des Moines. This facility stands out in that it exclusively serves Alzheimer’s and dementia patients. Occupancy at the time of the sale was 86% with a 94% private pay and 6% Medicare census. We don’t hear of figures like that often for a skilled nursing facility.
The selling group of investors had realized their investment objectives and decided to sell the facility to an institutional investment group based in California. A national company with a strong presence in the Midwest will operate going forward. Nick Cacciabando and Jeff Binder handled the transaction.
