Senior Living Investment Brokerage closed a five-property portfolio deal in Pennsylvania, featuring a mix of personal care and skilled nursing beds. Ryan Saul and Toby Siefert were engaged by the receiver to confidentially sell the facilities, which are located throughout northwestern Pennsylvania.
They included Clepper Manor in Sharon, Kermitage Nursing and Rehab in Hermitage, Lakeview Personal Care in Darlington, Shelburne Personal Care in Butler and The Lakes at Jefferson in Mercer, totaling 156 independent living/personal care units and 159 skilled nursing beds. The properties varied in age, built between 1958 and 2017, but offered a new owner the chance to add to an established presence in the region with a continuum of care. There was some positive cash flow, but margin and census could be improved.
SLIB marketed the portfolio in late Spring 2024 and went under LOI in July with an affiliate of the portfolio’s in-place operator. That makes for an easier transition. The existing lender also provided financing to the buyer, and the deal closed on December 1, for an undisclosed price.
