March 1, 2017
Grant Kief

Missouri Skilled Nursing Facility Sale

Missouri Skilled Nursing Facility Sale

Senior Living Investment Brokerage, Inc. recently completed a Missouri Skilled Nursing Facility Sale in the town of Liberty. The transaction was handled by Patrick Byrne, Toby Siefert and Matthew Alley. The 143 Bed Skilled Nursing Facility was built in 1992 and was vacant at the time of the sale. The Missouri Skilled Nursing Facility sale price was $2,000,000.

Background

The sale of the skilled nursing facility was prompted after CMS terminated their provider agreement with a public healthcare company. They had purchased the facility in early 2015 and inherited some operational challenges in the process. Shortly thereafter CMS moved to close the skilled nursing facility and all of the residents moved out over the course of the next few months. At this point, the license was to remain active for a full calendar year and Senior Living Investment Brokerage, Inc. was retained to market the property.

The single story building was built on a prominent site next to Liberty Hospital and contains approximately 38,765 square feet. The census was 77% at the end of 2014. The skilled nursing facility had one of the best reputations in the area and Senior Living Investment Brokerage, Inc. had sold the property as part of a portfolio in 2006. The physical plant had deteriorated since the sale in 2006 and recent survey challenges had impacted the profitability. Though the location is favorable, the greates challenge facing the skilled nursing facility comes from Liberty Hospital which is developing a CCRC on an adjacent lot. This has impacted the market for the home but Clay County currently has one of the greatest demands for seniors housing in Missouri.

Sales Process

Despite the challenges facing the property, Senior Living Investment Brokerage, Inc. procured multiple offers for the skilled nursing facility. The Buyer selected is a private equity group who has partnered with a regional operator. The license has been transferred into their name and a new provider agreement with CMS is in process.

Contact

For additional information on this Missouri Skilled Nursing Facility Sale or for an analysis of your seniors housing property, please contact Patrick Byrne (byrne@slibinc.com), Toby siefert (siefert@slibinc.com) or Matthew Alley (alley@slibinc.com) of Senior Living Investment Brokerage, Inc.