Senwell Senior Investment Advisors has closed the sale of a skilled nursing/assisted living facility portfolio in Ohio consisting of four sites. The Ohio-based owner decided to sell the portfolio with intention of leaving the senior care sector and shifting its focus on its growing ancillary business (mainly hospice). The facilities were cash flowing, but a recent Medicaid rate increase across all facilities and a jump in occupancy due to a local SNF closing presented additional upside for a new owner. As such, six attractive offers were submitted, and the eventual buyer, a regional operator with several recent acquisitions in the state, purchased the portfolio at above asking price. The seller will continue to work with the buyer as hospice partners, so the transaction was clearly mutually beneficial. Ben Bohland and Brandon Bohland handled the deal.
