Monthly Archives: February 2011

February 28, 2011
Grant Kief

Matthew Alley and Jeff Binder Sell Texas CCRC

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Jeff Binder and Matthew Alley sold a 142 Unit/178 Bed Continuing Care Retirement Community in Southeast Texas. Constructed in 2001, the community consists of 40 Independent Living Units, 78 Assisted Living and Adult Day Care Beds and 60 Comprehensive Nursing Beds. The 132,487 square foot facility is on 12 acres and census at the time of sale was 94%. The Seller was a local regional medical center and the Buyer is a publicly traded REIT and will be operated by a local regional operator. Senior Living fielded 8 bona fide offers from owner/operators across the country. For additional information please contact Matt or Jeff.

February 22, 2011
Admin

NIC Regional Symposium

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Please join Senior Living Investment Brokerage, Inc. at the 2011 Regional Symposium the week of March 7th in Los Angeles, CA. The theme of this year’s conference is New Opportunities, New Realities: What’s in your playbook?

SLIB represented a majority of the transactions across the country last year. Consult Senior Living for new opportunities available, new realities in valuation and allow us to help complete your playbook for growth and divesting.

We are available to discuss our confidential proposal process to determine market value for any facilities you consider selling. Take advantage of the lack of quality opportunities on the market.

Please contact me at Ryan Saul via Email or 630-858-2501 to discuss how we can help.

February 16, 2011
Admin

Who Has Your Back?

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Over the next few months, as state budgets are proposed and discussed, it is likely that many states will unfortunately be forced to look to Medicaid for help in balancing these budgets. Wrong or right, Medicaid is a sizable target and its continued expansion puts significant pressure on every state’s fiscal health. This is exacerbated by the retirement of the enhanced FMAP funding on June 3oth. Less acute remedies, such as eliminating dental programs or slightly tweaking enrollment requirements, were implemented in FY 2011, but 2012 could bring more painful cuts. I would strongly urge industry participants to remain in contact with both state and national health care associations for updates and guidance. Through their PAC programs, these organizations work diligently with lobbyists, Representatives and Senators, to fight for the industry’s best interests. Few can argue the need for a unified front to ensure the voice of the sector is heard in Washington and state capitals across the country. If you have questions on how this may impact you and/or your facility, please contact Jeff Binder at 314-961-0070 or binder@seniorlivingbrokerage.com.

February 15, 2011
Grant Kief

Patrick Byrne and Jeff Binder Facilitate Missouri Sale

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Jeff Binder and Patrick Byrne sold a 120 bed Skilled Nursing/99 bed Residential Care facility in Springfield, Missouri. The facility was constructed in three phases in 1961, 1986 and 2008 and comprises approximately 68,614 square feet on 6.41 acres. The facility encountered some regulatory issues during the sales process which led to numeroous delays. The Buyer is a regional owner based out of Missouri. The sales price was $11,500,000. For additional information please contact Patrick Byrne or Jeff Binder at 314/961-0070.

February 15, 2011
Admin

Building? Where?

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We receive calls weekly about land that is prime for Seniors Housing development. Plans in place, feasibility study off the charts, permits granted, and shovels in hand. PROBLEM: Still little or no construction financing available. Currently, development is still not a viable option.

A couple of observations:

1) There has been very little new construction over the past 3 years due to lack of construction financing. I believe there is pent up demand for new product.
2) If you have access to funds to get a building out of the ground, you will have a competitive advantage. You will be able to capture the first boomers demanding new, state-of-the-art facilities.
3) It is a good time to look into selling with little supply and high demand in the market.

Please contact me at 630-858-2501 or Email Ryan Saul by clicking on my name for a confidential proposal to determine the market value for your facility.

February 8, 2011
Grant Kief

Matthew Alley Sells Texas Portfolio

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Matthew Alley sold six skilled nursing facilities in Texas for $68,500,000. The portfolio consisted of 894 skilled beds with 54 assisted living units and 17 independent living units at one of the locations ($76,620/bed/unit). The facilities were at 80% census. The facilities, built between 1986 and 2009, were the last six owned by a regional owner/operator. Matthew had been hired to sell six facilities for this group previously. Because of his success and the relationship, he was hired to sell the remaining properties in the portfolio. For additional information, please contact Matthew at 630/858-2501 or alley@seniorlivingbrokerage.com

February 1, 2011
Grant Kief

Ryan Saul and Brad Clousing Close on Florida Portfolio

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Brad Clousing and Ryan Saul sold a portfolio of four assisted living facilities in the Florida panhandle. Each facility is 39 units and were constructed in 1999. There is available land with each site and the buildings were each designed for expansion of 12 to 14 additional units. The properties were well maintained and offered both assisted living and memory care. The facilities sold for $109,000/unit at a 10.1% capitalization rate. For additional information, please contact Ryan or Brad at 630/858-2501.