Senior Living Investment Brokerage’s Summer Surge
As the temperatures rose, the team at Senior Living Investment Brokerage heated up too, following up its portfolio closing in Florida with two deals in the Lone Star State. First, in east Texas, Matthew Alley worked with an independent owner/operator to sell their long-held skilled nursing facilities in Grand Saline and Athens. Built in the 1960s, the facilities were operating just above breakeven on approximately $3.5 million of combined revenues. The 76-bed facility in Grand Saline was 65% occupied, while the 82-bed Athens facility had run into some major regulatory issues and was just 52% occupied. Another independent owner/operator based in the Dallas/Fort Worth area stepped in as the... Read More »
Despite Hurricane Hit, Central Florida Assisted Living Communities Sell
After taking a hit, operationally, from Hurricane Irma, five Florida assisted living communities sold to a Texas-based not-for-profit making its first acquisition in the Sunshine State. Built from 1999 to 2013, the portfolio is mostly located in central Florida, with one property on the Panhandle in the town of Niceville, and features 340 total units, ranging in size from 46 to 114 units. Expenses rose across the portfolio due to evacuations and staffing increases from Hurricane Irma, causing the operating margin to fall to 26% on just under $17.9 million of revenues. Occupancy was also just around 79%. However, ownership had reversed the trend, and the community was budgeted to operate at... Read More »
Senior Living Investment Brokerage Expands Services
A transaction can’t get done without the financing, so the partners at Senior Living Investment Brokerage have formed Monarch Advisors LLC to help seniors housing and care owners and operators raise capital when needed. The sister company will be led by industry veteran Alec Blanc, who spent the past decade or so at Regions Bank. His 30+ years of experience and contacts will certainly go a long way to opening doors for SLIB’s clients. Based in St. Louis, Missouri, Monarch will work closely with the SLIB team when financing needs arise for their clients, but it will also seek other opportunities to raise both debt and equity for other providers. Blanc knows the SLIB team well... Read More »
Senior Living Investment Brokerage Notches North Carolina Closing
Its complex past didn’t stop an assisted living community in North Carolina from selling to an in-state operator, albeit for a price of $1.7 million, or just $13,900 per unit. The property’s owner, a regional operator based in the Tar Heel State, originally built it as a skilled nursing facility in 1984. However, when they decided to build a replacement SNF within the county in 2016, the existing facility switched to an adult care home licensed and operated with 92 assisted living and 30 special care (memory care) beds in 90 total units. After a couple of years, the owner decided to close the facility but kept the license and CON active. An assisted living operator also based in North... Read More »Schedule a demo
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