


New SNF Sells in Texas
A brand-new skilled nursing facility changed hands in central Texas, with the help of Nick Stahler and Austin Diamond of The Knapp-Stahler Group at Marcus & Millichap. Opened in 2019, the 88-bed facility was built as a replacement property by its regional owner. The pandemic took a toll on operations. Occupancy was 50%, and there was some positive cash flow, but the facility was heading towards stabilization. Given its newer vintage and lack of new competition in the area, we imagine once stabilized, it could operate at a healthy margin. The facility is also enrolled in QIPP, which should help. Another regional owner with a presence in the state bought the facility for $7.0 million,... Read More »
Marcus & Millichap Closes Two Deals in Wisconsin
Marcus & Millichap’s Ray Giannini has closed two deals in Wisconsin, comprising a 110-unit CCRC and named Ladysmith Care Community and a 50-bed SNF called Shell Lake Healthcare Center. Ladysmith Care Community, located in Ladysmith, was built in the 1950s and 60s and renovated in 1991, and again in 2012. It has 20 RCAC units and 62 SNF beds and reported good occupancy. Shell Lake, located in Shell Lake, was built in 1984 with an addition in 1994. It is located one mile away from a critical access hospital and contains 11 private rooms. Read More »
AL Sale in Arizona Closed By The Knapp-Stahler Group
Nick Stahler and Hap Knowles of The Knapp-Stahler Group at Marcus & Millichap recently closed on the sale of an 83-unit assisted living/memory care community in the Phoenix, Arizona MSA. Built in 2017, the property includes more than 120 beds. A national private equity firm that originally developed the community also managed the property, but ran into challenges throughout the pandemic. They selected an experienced, western-based owner/operator to acquire the community, with a closing price falling significantly below replacement cost. No other details were disclosed. Read More »