Bradley Clousing and Daniel Geraghty of Senior Living Investment Brokerage handled the sale of a skilled nursing facility in West Memphis, Arkansas. Consisting of 85 beds in 49 units, the facility is situated along the Mississippi River on the Arkansas-Tennessee border. It was built in 1975 and includes a well-maintained physical plant. Occupancy was low, at 55%, and since the census has dropped due to COVID, plus this facility being a geographic outlier, we can’t imagine it was overly profitable.
It was owned by an Arkansas-based regional owner/operator that decided to divest this asset from its portfolio. Another regional owner/operator stepped in to acquire the facility, closing at the end of 2020.
