May 23, 2016
Grant Kief

Assisted Living Community Sale in Georgia

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Brad Clousing, Managing Director of Senior Living Investment Brokerage, Inc. recently orchestrated an Assisted Living Community Sale in Nashville, Georgia. The asset features 12 assisted living units and 14 memory care units in the 18,603 square foot building. Originally built in 1997, the physical plant underwent an extensive renovation in early 2015 and the lease up began in August of 2015. The sale also included additional land for future potential expansion. The transaction was strucured as a sale leaseback. The seller also recently sold another community locatd approximately 25 miles south of this property in a sale leaseback transaction as well. The Buyer is a publicly traded REIT. The community was fully occupied at the time of closing and will benefit from the additional land for expansion of 20 to 24 units. The sales price for the 26 unit building was $2,700,000 which translates to $103,846 per unit. The cap rate was 11.3% and the Gross Income Multiple was 2.4X. For additional information on this Assisted Living Community Sale or how Senior Living Investment Brokerage, Inc. can facilitate the confidential sale of your seniors housing community, contact Brad Clousing at 630/858-2501 or clousing@slibinc.com