Monthly Archives: May 2012

May 29, 2012
Admin

Who Needs To Know?

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Perhaps we (Senior Living Investment Brokerage, Inc.) take such things for granted since we have been involved in the Seniors Housing sector for so long, but there can be a list of people who need to be made aware of the pending sale of a long-term care facility. Most notably, the state regulatory authority, where notice of a change of ownership must be made anywhere from a few days to several months prior to closing. Obviously, when you see an approval period of multiple months, the rest of the structure of the transaction must take this into consideration. We are strong believers in having all contingencies removed prior to notifying the state of the change of ownership. Therefore, there could be several months between the end of due diligence and closing. The longer this time period, the greater likelihood something material can occur which potentially could impact the transaction: a bad survey, dramatic change in census, key personnel leaving, etc.  While it is common for a seller to feel comfortable at this point in the transaction, it is crucial to maintain operational focus to minimize the risk of any event occurring which could derail the deal. Senior Living Investment Brokerage, Inc. remains a key partner in the transaction process, and we are aware of the many challenges a Seller faces while going through the sales process.  Having closed transactions in so many different states, we are aware of the nuances of dealing with different states and the challenges of navigating the final months of a transaction.
May 21, 2012
Grant Kief

Brad Clousing and Ryan Saul Handle Florida ALF Sale

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Ryan Saul and Bradley Clousing sold a 63 unit Assisted Living and Memory Care Facility in central Florida.  The facility, constructed in 2010, is located adjacent to The Villages, a premier retirement community with over 80,000 residents ages 55 and over.The facility was constructed under the HUD 232 program.  Since opening in 2010, the facility has steadily improved to over 80% occupancy.  The improving census combined with the location and newer construction, should make this a successful investment for the new owners.  For addisitional information, please contact Brad or Ryan at 630/858-2501.

May 18, 2012
Admin

How Senior Living Can Help

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It is more than just finding a seller and matching up a buyer.  One area where we help get a deal done is  managing the back end once a purchase agreement is executed.  Most recently, appraised values are coming into question.  Senior Living Investment Brokerage, Inc. knows all of the active, qualified appraisers in the Seniors Housing Industry.  How can we help?

We know the market inside and out and will be sure to connect with the selected appraiser before they begin their work.  Senior Living Investment Brokerage can provide the most current, valid comparable data that support the subject property.  We find that being proactive and detail-oriented often translates into a higher success rate of getting deals closed.  Please contact Ryan Saul to discuss the current market and how we can help with your buying and selling needs.

May 16, 2012
Grant Kief

Brad Clousing Sells 168 Unit Florida Assisted Living Facility

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Bradley Clousing sold a 169 unit Assisted Living/Memory Care Facility located in the St. Petersburg/Tampa Bay MSA.  The facility was built in 2010 and consists of 168 units/218 beds and 8 commercial suites.  The facility has enjoyed a steady lease-up to over 80% occupancy since opening and outpacing the initial projections.  The facility had existing assumable, non-recourse HUD debt with favorable terms.  For additional information on this transaction or information regarding the Florida seniors housing market, contact Brad Clousing at 630/858-2501 or clousing@slibinc.com