Before the year closed out, Nick Stahler, Mike Mooney and Austin Diamond of The Knapp-Stahler Group at Marcus & Millichap closed a nine-facility, 1,000+ bed assisted living and skilled nursing portfolio in the greater Dallas, Texas MSA. Adding to the portfolio’s appeal was its assumable, attractive, non-recourse HUD financing at below-market interest rates.
So, The Knapp-Stahler Group produced multiple offers for the seller, a national private equity owner/developer, which ultimately selected a New York-based skilled nursing investment firm as the buyer. The buyer was selected for its substantial financial liquidity and tenure in the seniors housing industry.
The process hit some bumps along the way after an initial tranche of prospective operators declined to move forward. But an extensive search and vetting process successfully paired the buyer with a Texas-based operator.
