Plains Commercial Real Estate was brought on by a regional owner/operator in the divestment of its senior care facility in Texas. The seller was looking to consolidate its operations closer to its home office. The buyer is a private investor, and the facility will be operated by a large, Texas-based operator.
Built in 2009 and well maintained, Copperas Hollow Nursing & Rehab comprises 90 skilled nursing beds and 12 assisted living units in Caldwell. At the time of closing, occupancy was hovering around 70%. The facility offered strong in-place cash flow as well as significant upside through some operational changes and agency expense controls. Daniel Morris of Plains handled the transaction.
