A couple of small residential care facilities traded in the Ozarks region of Missouri, with their mom & pop owner/operator exiting the senior care business as a result of the deal. Andrew Montgomery of Montgomery Intermediary Group handled the transaction on behalf of them.
One community in Cole Camp, built in the 2000s, featured 20 units of residential care (RCFI). The other building, in the town of Warsaw, was a Department of Mental Health residential care community, classified as an RCF II, that had 21 units and 35 beds. The Warsaw building was on the older side but both had a history of high occupancy.
Combined, the properties sold for around $40,000 per unit, and there was no cap rate, although the properties were profitable. ANEW Healthcare, a growing regional owner/operator with 10 existing locations and around 1,000 beds in Kansas, Iowa and Missouri, bought the assets.
