Tutera Adds to Kansas Portfolio
After operating it for a couple of years, Tutera Senior Living took over ownership of a skilled nursing facility in receivership in Derby, Kansas. Nick Cacciabando of Senior Living Investment Brokerage handled the sale on behalf of the receiver. This small facility, which features 45 beds, was built in 1976. A few years ago, Virginia-based alternative asset manager Mooring Financial purchased the distressed HUD debt on the property. This was their only senior care asset and decided to exit the facility. Operations had declined during the pandemic, and the facility was losing money at the time of the sale with an occupancy of around 80%. During that time, the facility had an initial... Read More »
Senior Living Investment Brokerage Sells Ocala-Area Portfolio
Bradley Clousing and Jeff Binder of Senior Living Investment Brokerage facilitated the sale of three assisted living/memory care communities in the Ocala, Florida area. These communities combine for a total of 144 units and 198 beds. The Belleview and 24th Road locations provide memory care services across 41 units and 42 units, respectively, while the Deerwood community has 61 assisted living units. They were operating well, and the in-place operator, which was clearly going a good job, emerged as the buyer in a fee-simple transaction. They beat out multiple offers from both regional and national buyers in the process. Read More »
Senior Living Investment Brokerage Sells Ocala-Area Portfolio
Bradley Clousing and Jeff Binder of Senior Living Investment Brokerage facilitated the sale of three assisted living/memory care communities in the Ocala, Florida area. These communities combine for a total of 144 units and 198 beds. The Belleview and 24th Road locations provide memory care services across 41 units and 42 units, respectively, while the Deerwood community has 61 assisted living units. They were operating well, and the in-place operator, which was clearly going a good job, emerged as the buyer in a fee-simple transaction. They beat out multiple offers from both regional and national buyers in the process. Read More »
SLIB Secures Three Sales on Two Coasts
Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage announced a couple of closings out West. Starting in rural central Oregon, the trio sold a 27-unit/35-bed assisted living community in the town of Maupin for $1.6 million, or $59,300 per unit. Built in 2005, this community was fully occupied, but with a 60% Medicaid census. It was operating at a 20% margin on over $1 million of revenues, which is solid but presents an opportunity for a new owner. The current regional owner/operator chose to focus on its larger communities in major West Coast MSAs and decided to sell the community to an Idaho-based regional owner/operator that does focus on these... Read More »Schedule a demo
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