Senior Living Investment Brokerage announced the sale of a skilled nursing facility in the state of Illinois. Built in 1975, Barry Community Care Center comprises 76 beds and sits on five acres about 80 miles west of Springfield. The seller of the facility was a regional owner/operator looking to divest this asset from their portfolio to focus on their core assets. At the time of marketing the facility held an occupancy of 76% and operated at a significant loss on nearly $3.4 million in revenues, although performance improved throughout the process.
A Midwest regional owner/operator based on the East Coast emerged as the buyer with the intention of expanding their presence in Illinois. Jeff Binder and Ryan Saul of Senior Living Investment Brokerage handled the transaction.
