Patrick Byrne and Jeff Binder have announced the sale of a 99 bed Skilled Nursing Facility in Southern Illinois. The facility, constructed in 1971, is located in a rural town with a population of approximately 1,000 but draws residents from the entire county. Marketing of the facility was enhanced by assumable HUD debt. The Transfer of Physical Assets took nearly eight months to complete. During the process the facility’s performance improved considerably. The Seller is a national owner/operator that acquired the facility in 2006. The Buyer is a regional operator based near the asset that will be able to create some economies of scale by absorbing this property into their current operations.
