Bradley Clousing and Daniel Geraghty of Senior Living Investment Brokerage sold a 120-bed skilled nursing facility in Jacksonville, Florida. They represented the long-time not-for-profit owner/operator that had run into operational difficulty after the pandemic. As is typical of a not-for-profit operation, some expenses could be trimmed, but occupancy could also improve. The 1970s-era building was in decent shape after numerous physical plant improvements over the years, with only private and semiprivate rooms. A national owner emerged as the buyer and brought on a Florida operator to oversee the facility’s turnaround. No price was disclosed.
Earlier in the fourth quarter, Mr. Clousing also closed the sale of an assisted living/memory care community in an Atlanta, Georgia suburb, but no other details were disclosed.
