Senior Living Investment Brokerage’s Matthew Alley facilitated the sale of three skilled nursing facilities in Henrietta, Olney and Nocona, Texas. The combined facilities, totaling 250 beds, sold for $7.75 million, or $31,000 per bed. The properties, which have an average occupancy of 50%, are within 90 miles of each other northwest of Fort Worth. The seller is an independent owner/operator who is exiting the industry, and the buyer is an out-of-state owner/operator that is purchasing its first nursing home.
The facilities earned revenues totaling $9.87 million and EBITDA over $500,000 in 2020. These communities are also enrolled in QIPP, which provides additional revenues not included in the financials. Entitled the Grace Care Centers Portfolio, the facilities were built between 1964 and 1972, sat on a combined 5.87 acres and spanned across 57,500 square feet.
