Brad Clousing and Patrick Byrne recently sold a 64 unit Assisted Living Community in Bradenton, Florida. The community, built in 1989/98/2014, had a census of 64% and featured 34 assisted living units and 30 memory care units in a five building campus setting. The unit mix and layout provided for a mix of private pay and managed care residents (approximately 40%). The Seller is a Fort Lauderdale based investor planning to focus operations in the Broward and Miami-Dade markets. The Buyer is from the Midwest and this is their first acquisition in Florida. At the direction of the Sller, Senior Living Investment Brokerage was able to confidentially market the facility and field multiple qualified Buyers for consideration.
Skilled Nursing Facility Sale
Senior Living Sells Skilled Nursing Facility. Matt Alley recently facilitated a Skilled Nursing Facility sale located in Austin, Texas. The community consisted of 54 units. The 10,452 square foot facility was built in 1970. The property has maintained a census around 93% for the past couple of years. The facility was closed at the time of sale and the Buyer will take possession of the real estate and Medicaid beds.
The Skilled Nursing Facility Sale was $1,200,000 or $22,222 per unit.
Senior Living Investment Brokerage, Inc. Seller Representation
The Seller was a private owner/operator and the Buyer is an owner/operator based in Texas with additional facilities in Austin. Senior Living was able to procure multiple offers on the property.
Contact Matthew Alley
For additional information on this Skilled Nursing Facility Sale or for a valuation on your seniors housing property, please contact Matt at 630/858-2501 or firstname.lastname@example.org or www.matthewdalley.com.
Jason Punzel and Ryan Saul sold three assisted living communities in Idaho. Built between 1972 and 1976, the communities totaled 267 units and sold for $11,275,000. The overall census was 70%. The Seller is a local, private owner who is retiring from the seniors housing business. The Buyer is a publicly traded company with other communities and services in Idaho. With their current presence in Idaho, they will be able to improve census and net operating income using economies of scale. For additional information on how Senior Living Investment Brokerage can help you buy or sell assisted living, please contact Ryan or Jason at 630/858-2501
Ryan Saul and Nick Cacciabando sold a 100 Bed Skilled Nursing/20 Bed Assisted Living Community in Colorado Springs. The property was originally built in 1892 for members of the International Typographical Union and included two dormitory buildings that had been shuttered for many years. Built to service union members, the census had decreased to only a handful of members. The not-for-profit board made the decision to sell since the building(s) were not serving their original purpose. The Buyer is a group of individuals with plans to invest in the physical plant, increase the Medicare census and cut expenses. Senior Living Investment Brokerage, Inc. was able to procure several offers for this non-traditional property.
As we start the new year initial signs point to the fact that we are in the same market as 2015. For the past 4-5 years, a new year brings follow up from buyers looking to acquire long-term care or Seniors Housing communities. It also leads potential sellers to follow up and see what their community is worth. This year is no different. I’ve had a number of requests for proposals and receive daily calls from buyers aggressively looking to acquire facilities.
What does this mean for you? If you are a seller, the strong demand should be enough for you to have a proposal done to see what your community is worth. If you are a buyer, the spike in requests for proposals should lead to new inventory for you to purchase in the next few months.
Please contact Ryan Saul for more information about the current market. 630-858-2501.