Toby Siefert and Matthew Alley of Senior Living Investment Brokerage, Inc. recently sold two Seniors Housing Communities in Eastern Pennsylvania. The first property consisted of 118 Personal Care units and 12 Independent Living units consisting of 58,800 square feet on 4 acres. Originally constructed in the 1960’s with updates and additions through 2004. Census was 85% all of which is private pay. The other community, in the same city, has 98 Personal Care units and 13 secured Memory Care units consisting of 44,525 square feet originally constructed, expanded and renovated between 1987 and 2000. Census was 66% and all the residents are private pay. The cap rate at the time of sale was 6.8%. The Seller is a private owner exiting the business. This was their only seniors housing communities. This is the first acquisition by the Buyer. The principal is creating a new company but has significant experience as an operator of seniors housing. The new owner will focus on marketing to drive census and increase margins with plans to re-finance to a HUD mortgage after stabilizing census. For additional information on this transaction or how Senior Living Investment Brokerage can assist you, contact Matthew Alley or Toby Siefert at 610/858-2501 www.slibinc.com
