Senwell Senior Investment Advisors closed two separate transactions in North Carolina and Florida. First, Senwell facilitated the sale of Silver Bluff, a senior care community in the Asheville, North Carolina MSA. The selected buyer is a well-known operator in North Carolina. With recent Medicaid rate increases, the campus is well-positioned for continued success under new ownership.
Silver Bluff, which was in the seller’s family for decades, comprises 111 skilled nursing beds and 13 assisted living beds across 11.7 acres. Additionally, the campus offers 20 multi-unit assisted housing beds with services and is supported by ancillary properties such as residential duplexes and essential services facilities. After marketing the campus independently and facing significant challenges, Senwell reframed how it was presented to the market, resulting in 11 competitive offers. Brandon Bohland handled this transaction.
Bohland also facilitated the transfer of 90 skilled nursing Certificate of Need bed licenses in the Palm Beach, Florida market. The client, a hospital in the Palm Beach market, sought to convert its SNF beds to other uses within its hospital.
With the bed licenses at risk of expiring, the Senwell team worked to secure a private equity buyer. Despite a tight land-constrained market, the buyer identified a prime development opportunity to build a new SNF. The transaction closed on time and at the price the seller was looking for, which was not disclosed.
