Local Owner in Georgia Exits Senior Care Market
Two Senior Living Investment Brokerage teams facilitated an owner’s exit of the senior care industry with the sale of two assisted living communities in Georgia to two different buyers. First, the local owner/operator sold its small community in Cartersville, northeast of Atlanta. Built during the last assisted living construction boom in the early-2000s, the 25-unit community was renovated in 2015. Since then, it has remained well occupied exceeding 90%. A Northeast-based owner/operator looking to expand its portfolio in the Peach State paid an undisclosed sum for the community. The other transaction saw a 58-unit community in Dalton (northeast corner of Georgia) sell to an... Read More »
SLIB Closes Columbia, South Carolina Transaction
Bradley Clousing and Jason Punzel of Senior Living Investment Brokerage handled the sale of a senior living community in Columbia, South Carolina. Its private partnership owner was looking to exit the sector, which prompted the transaction. Originally built in 1996, this community was extensively renovated in 2006, 2013 and finally 2016, the last of which saw $2 million invested. It now features 38 independent living, 32 assisted living and 22 memory care units, with a full range of amenities and an attractive physical plant. There are seven buildings on the 6.86-acre site. Occupancy was just 66%, while the community operated at an 8% margin on nearly $2.1 million of... Read More »
Senior Living Investment Brokerage Brokers Bankruptcy Sale
The Senior Living Investment Brokerage team of Ryan Saul, Patrick Burke and Toby Siefert put in the hours to work through a bankruptcy sale of a 130-bed skilled nursing facility in Bristol, Tennessee. Originally built in 1986 and 1990, this facility was owned by a regional skilled nursing operator. Over the last couple of years, it faced challenges with occupancy and cash flow, and as a result, both the OpCo and PropCo were placed into bankruptcy for liquidation. In came the SLIB team, which ran an extensive marketing campaign during the height of the pandemic, and despite a few extended deadlines, they found a buyer in a Mid-Atlantic-based regional skilled nursing owner with operating... Read More »
SLIB Facilitates Owner/Operator’s Senior Living Exit
A Lexington, Kentucky-based developer, owner and operator exited the senior living business with the sale of its only asset thanks to the work of Daniel Geraghty and Bradley Clousing of Senior Living Investment Brokerage. This community was previously an elementary school in Mt. Sterling, Kentucky, but was converted to senior living by the current seller in 2014. The gut renovation resulted in 30 spacious assisted living units. Occupancy quickly rose to 90% after opening and hovered between 85% and 90% until COVID brought census down to about 80% and the operating margin down to about 7% on over $1 million of revenues. The owner was looking to exit the sector and... Read More »Schedule a demo
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