Monthly Archives: December 2013

December 18, 2013
Admin

Portfolio Sales

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Pricing Premiums for Portfolios vs. Single Asset Sales

As a company, we value many senior living and skilled nursing facilities both as portfolios and single asset sales.  Often times we get asked the question if there is a premium to sell a portfolio of facilities instead of an individual facility.  In general, the answer is “yes”.  However, it depends on the size of the single asset vs. the size of the portfolio, the location of the portfolio and the make-up of the portfolio. 
In general, portfolios are more attractive to buyers if they are in the same general geographic location, are similar in size and quality and are either mostly seniors housing or mostly skilled nursing.  A portfolio is easier to manage and will fit the acquisition criteria of a buyer better when it is more homogeneous.
When comparing prices of an individual asset vs. similar assets that are in a portfolio of multiple assets we typically see a premium of 5-15% for the portfolio.  A portfolio allows a buyer to deploy more capital at once, achieve greater economies of scale, makes it easier to enter a new geographic location, and often allows for more attractive financing terms. 

Whether you own one community or several, the first step in determining value is to engage an experience professional to assist in the valuation and analysis of your property/properties.  Let us know if you would like a no-obligation market analysis.  
December 13, 2013
Grant Kief

Clousing, Saul and Binder Sell Georgia Assisted Living/Memory Care Community

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Brad Clousing, Ryan Saul and Jeff Binder teamed together to sell a 93 unit Assisted Living/Memory Care community in north central Georgia. The community consisted of 74 assisted living units and 19 memory care units on 15 acres. The community consists of 2 buildings, built in 2011 and 2012, an additional 20 unit expansion permitted and graded overlooking a private lake. The property leased up ahead of schedule and was fully stabilized by April of 2013. The Seller is a local developer of which this was their first seniors housing development. The Buyer is a national REIT and the asset will be operated by their affiliated operating company. Senior Living Investment Brokerage was able to procure a sale price of $236,833 per unit at a 7.5% capitalization rate.

December 5, 2013
Admin

Jason Punzel Presents at the Pacific Northwest Investors Conference

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On November 14th, Jason Punzel presented at the Pacific Northwest Investors Conference held in Vancouver Washington.  Jason’s topic was on valuing Senior Housing and Skilled Nursing Facilities.   The event was hosted by the Oregon Health Care Association and the Washington Health Care Association. The event was attended by owners, investors, lenders, brokers and industry specialists.  Jason can be contacted at punzel@slibinc.com

December 3, 2013
Grant Kief

Jeff Binder Sells Missouri Skilled Nursing Facility

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Jeff Binder was able to procure multiple offers on a 120 bed Skilled Nursing Facility that had struggled with census and had negative cash flow. The Seller is a national owner/operator that chose to exit the Missouri market. The Buyer is an Illinois-based owner/operator looking to add to their existing portfolio in the state of Missouri. Due to the confidentiality of this sale, please contact Jeff at binder@slibinc.com or 314/961-0070 for additional information on this transaction or on how he can assist with marketing your community.