A Couple of SNF Sales For Senior Living Investment Brokerage
Senior Living Investment Brokerage notched a few more sales in its belt this month, including two skilled nursing deals and an assisted living acquisition. First, Matthew Alley headed to the Mexican border in the town of Weslaco, Texas to close the sale of a 147-bed skilled nursing facility. Built in 1967 and 1996, the facility was just 78% occupied and operated at an 8% margin on about $7.85 million of revenues. A Dallas-Fort Worth area-based owner/operator decided to sell the asset to another DFW-area real estate owner for $5.25 million, or $37,500 per bed. An operator with other skilled nursing facilities in the state will take over management. Nick Cacciabando and Jeff Binder of Senior... Read More »Summer Sales at Senior Living Investment Brokerage
Senior Living Investment Brokerage ended July with two closings. First, a family owner that had operated a pair of Texas skilled nursing facilities for decades recently decided to sell to an independent owner/operator based in the Waco area for $9.35 million, or about $38,000 per bed. Built in 1978 and 1964, respectively, the 131-bed facility in Pasadena was 88% occupied while the 115-bed facility in Mineola was 78% occupied. Combined, the pair brought in approximately $460,000 in EBITDA on $11.95 million of revenues, so the buyer will look to improve that 4% operating margin. Matthew Alley of Senior Living Investment Brokerage handled the transaction. Mr. Punzel also closed the sale (with... Read More »
Assisted Living Purchase in the Idaho Panhandle
Jason Punzel and Brad Goodsell of Senior Living Investment Brokerage helped a local operator in Rathdrum, Idaho (in the state’s panhandle) sell their only seniors housing asset. Despite its rural location, the assisted living community operated well. Built in 2005 with expansions in 2007 and 2013, it operated at over a 35% margin on approximately $2.2 million of revenues, and occupancy reached 98%. However, its remote location certainly did not push up the price, as the community sold for $8 million, or a below-average $166,700 per unit. To put it in perspective, the national average price for assisted living, according to the 2017 Senior Care Acquisition Report, is $193,650 per unit. An... Read More »
After Filling in 30 Days, Georgia Assisted Living Community Sells
Brad Clousing of Senior Living Investment Brokerage sold a brand-new assisted living/memory care community in Blue Ridge, Georgia, which is already 100% occupied. In fact, the community filled in just 30 days after its October 2016 opening and has more than 20 people on the wait list with deposits made. Quite impressive. A local developer/operator built the community with 50 AL and 17 MC units, but the buyer, a joint venture between a Maryland-based fund and a Florida-based operator, plans to build a Phase II in response to the strong demand. And why not, with the community already operating at a 41% margin on approximately $3.1 million of revenues. Mr. Clousing sold the community for $17... Read More »Schedule a demo
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