Monthly Archives: May 2013

May 30, 2013
Admin

Skilled Nursing has great demand

Share
Uncertain long-term reimbursement environment.  Legislation risk.  Obamacare extra employee cost.  Difficult surveyors trying to raise more revenue.  You would think skilled nursing would be tough to sell today.  Not the case.  There is a huge shortage of quality skilled nursing facilities for sale right now.  The skilled nursing properties we are fortunate to list today are receiving 6-12 qualified offers in the first couple of weeks with aggressive terms.
The low cost of capital combined with the fact that there will always be a need for the nursing home to take care of the frail elderly lead to huge demand for this product .
If you have thought about selling your nursing home (skilled nursing facility – SNF), please don’t miss this opportunity to sell in what many consider to be the strongest market ever.
Contact Ryan Saul for a confidential proposal to find our what your facility is worth.
May 29, 2013
Grant Kief

Jeff Binder, Matt Alley and Toby Siefert Team Up to Sell New Mexico Assisted Living/Memory Care Community

Share

Senior Living Investment Brokerage, Inc. was engaged to sell a 69 unit Assisted Living and Memory Care community in New Mexico.  The building consists of 54 assisted living units and 15 memory care units.  Originally constructed in 1964 as a hotel, the building was converted in 1990 to seniors housing.  The building was subsequently renovated in 2002 and again in 2010.  The one and three story building is comprised of approximately 63,500 square feet on 2.4 acres.  The community has a strong operating history and an excellent reputation in the market.  At the time of sale, the census was 87%.  The Seller is a national owner/operator based in Oregon who was divesting this asset to utilize the capital for other corporate purposes.  The Buyer is a regional owner/operator based on the east coast.  For additional information, please contact Toby Siefert or Matthew Alley at 630/858-2501 or Jeff Binder at 314/961-0070.  www.slibinc.com

May 16, 2013
Grant Kief

Jeff Binder Sells Oregon Assisted Living Community

Share

Jeff Binder was engaged to sell a 53 unit  Assisted Living facility in northwest Oregon.  The building consisted of 41 studio units and 12 one-bedroom units.  Constructed in 1999, the attractive two-story building sits on 2.15 acres.  The community has a strong operating history, including several years at, or near, full capacity, and an excellent reputation in the market.  At the time of the sale, census was near 93%.  The building is a participant in the Medicaid program and the Medicaid census at the time of sale was 50%.  The transaction closed at a 9.3% capitalization rate/$128,302 per unit.  The Buyer assumed debt issued by the Oregon Housing and Community Services Department that carried unfavorable terms but certain penalties associated with the debt prevented pre-payment.  The Seller is based in Oregon and divested the asset to exit the seniors housing sector and plans on using the proceeds on a more passive investment.  A national seniors housing operator managed the facility for the Seller and will remain under a new third-party management agreement.  The stable financial history, solid reputation and quality location just outside of Portland, helped secure multiple offers.  The Buyer is a national owner with plans to increase their operating presence in Oregon.  For additional information, please contact Jeff binder at 314/961-0070 or binder@slibinc.com 

May 9, 2013
Grant Kief

Brad Clousing Facilitates Florida Assisted Living Sale

Share

Brad Clousing sold a 129 unit Assisted Living Community in St. Petersburg, Florida.  The building was originally built as a hotel in 1971.  In 1995 it was renovated and converted to an assisted living facility.  It was again substantially renovated in 2005.  The facility was unable to survive the high leverage placed on it in 2007 and was foreclosed on by the syndicate of lenders.  The facility has been closed but the new owners plan on upgrading the building.  Because of the large resident rooms, good condition and favorable location, the project will re-open as an ALF.  The Buyer is a regional owner/operator of assisted living and has had success with hotel conversions to seniors housing.  They plan on investing significant capital to upgrade and rebrand the facility.  The demand within the primary market area is very strong and the facility will serve a needed niche.  Once it opens, the facility will compete well with other communities in the market and it is anticipated the asset will reach stabilization within 3 years.  For additional information, please contact Brad Clousing at 630/858-2501 or clousing@slibinc.com