Local Doctor Buys Rural Texas Assisted Living
Using his expertise in the Texas M&A market, Matthew Alley of Senior Living Investment Brokerage sold an assisted living community in rural east Texas for $2.8 million, or $56,000 per unit. Originally built in 1994, the 50-unit community is the only licensed assisted living property in Franklin County. It includes 68 licensed Type A beds, and at the time of marketing, it was about 58% occupied, generating about $50,000 annually in EBITDAR on over $840,000 in revenues. Its independent owner/operator was looking to exit the seniors housing industry, ultimately selling the community to a local doctor. That medical knowledge can’t hurt in turning the community around. Read More »
Missouri Operator Goes for Scale in SLIB Sale
A large Missouri-based skilled nursing operator just increased its scale in the region with the purchase of a 136-bed skilled nursing/assisted living facility in Pacific, Missouri. Jeff Binder and Patrick Byrne of Senior Living Investment Brokerage facilitated the transaction, generating eight offers for the facility. Originally built in 1986, the SNF portion features 120 beds and is in good condition, considering its age. A 16-unit assisted living wing was added in 2005. Operations could be improved across the board, with occupancy sitting at 80% and the operating margin just above 6% on nearly $6.6 million of revenues. Those financials do not reflect a sizeable Medicaid rate increase... Read More »
Clousing Sizzles in the Southeast
The summer heat isn’t getting to Brad Clousing of Senior Living Investment Brokerage, who recently closed two transactions in the Southeast. First, Mr. Clousing was joined by Daniel Geraghty and Dave Balow to sell a personal care community about 65 miles northeast of Atlanta. Originally built in 1994, the community operates with 24 private personal care units and 10 semi-private memory care units. It was extensively renovated in 2015 and offers additional room for an expansion. With the renovation complete and the community stabilized at 97% occupancy, its local owner/operator decided to exit the asset. A Northeast owner/operator entered the Georgia market with its purchase of the... Read More »
Clousing Arranges Second Savannah Sale This Year
Closing his second senior living transaction in Savannah this year, Brad Clousing of Senior Living Investment Brokerage sold a large senior living community located just 10 minutes away from the historic center downtown. Built in 1986 and 1998, the 209-unit community features a majority of independent living units (146), but assisted living and memory care rooms too. Plus, the previous owner, HJ Sims, recently converted its personal care license to an assisted living license, giving the buyer added flexibility when it comes to acuity types. That should help as they embark on a plan to increase occupancy (from its current 74%) and boost the operating margin (from about 16% on $4.9 million... Read More »Schedule a demo
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