SLIB Facilitates Sale in New York
An assisted living community also enrolled in New York State’s ALP program changed hands from one owner/operator to another, with Patrick Burke and Dave Balow of Senior Living Investment Brokerage handling the deal. Built in 1988 and 1998 in upstate New York, the community features 76 licensed beds in 46 units, with 25 of the beds in the ALP program, which is a Medicaid program that provides high-acuity, skilled nursing care in a lower-cost setting. Historically well occupied above 90%, the community had been able to keep COVID out for most of 2020 but unfortunately had an outbreak at the end of the year. Occupancy and revenues dipped, but the seller was able to get COVID out and improve... Read More »
SLIB Assists on REIT Divestment From Indiana Community
A REIT divested an underperforming outlier from its portfolio with the help of Brad Clousing and Ryan Saul of Senior Living Investment Brokerage. Located in Fort Wayne, Indiana, the 120-unit community was purpose-built for independent living in 1997. However, it was deemed to be non-core by the REIT owner, and a private regional owner with extensive experience in Indiana saw an opportunity to convert the community to a higher-acuity, all-Medicaid facility. The transaction closed in 30 days from start to finish, with no purchase price disclosed. Read More »
SLIB Handles SNF Sale in Connecticut
No skilled nursing deal comes easily these days, and one facility in Connecticut went over a few hurdles to find a new owner. That buyer played a big role in getting the deal done too, other than writing the check. The deal was under LOI before the pandemic and closed at the end of September. Dave Balow of Senior Living Investment Brokerage handled the transaction. Built in stages in 1955, 1975 and 1994, the 62-bed facility in Plainfield had been family-owned and operated since it opened. It had historically run at high occupancy (at 90% before the pandemic), with a strong quality mix. Also, the facility had managed to stay COVID-free throughout much of 2020, a feat for any SNF in the... Read More »
SLIB Facilitates SNF Closing in Florida
A few months after selling a an 87-unit assisted living community in Lakeland, Florida, Brad Clousing and Daniel Geraghty of Senior Living Investment Brokerage returned to the campus to represent the same buyer of the adjacent skilled nursing facility. The buildings are actually only separated by a set of fire-rated doors. The campus, which previously had two different real estate owners and two different operators, will now be owned by one company, Mainstay Senior Living. The skilled nursing facility has 120 beds and was delicensed by the state in 2017. However, with the onset of the pandemic, the facility was allowed to reopen in early 2020 to accommodate... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
