Evans Senior Investments announced it has handled the sale of a skilled nursing facility in Osgood, Indiana (Cincinnati MSA). Built in 1981, Manderley Health Care Center comprises 71 beds and sold for $4.15 million or $58,500 per bed. The seller of the facility was an independent owner/operator. At the time of marketing, it was 58% occupied and not producing positive cash flow. At one point, occupancy dipped below 45%, however the owners of the facility were able to bring occupancy up to 59% at the time of sale.
The buyer was an East Coast owner/operator expanding its presence in the state of Indiana. Evans Senior Investments handled the transaction.
