Forest Healthcare was enlisted by a large nursing home group in its divestment of a skilled nursing facility in Austin, Texas. The seller has an existing footprint in the state, however, this was its only facility in Austin. The buyer, an owner/operator based near Austin, has other properties in the area and wanted to further grow its footprint.
Built in 1985 with recent renovations, the facility comprises 120 licensed skilled nursing beds with occupancy over 82% at the time of closing. There are an additional 45 assisted living beds that the buyer intends to convert to licensed SNF beds. Jeffrey Vegh and Joe Schiff handled the transaction.
Vegh and Schiff also recently closed a separate transaction in November. A repeat client of Forest enlisted the duo to sell a 162-bed skilled nursing facility in Tennessee that was built in the 1980s and had strong occupancy levels. The buyer was a regional team with a footprint in Kentucky that wished to expand to Tennessee.
