Senior Living Investment Brokerage was hired to sell Skilled Nursing Facility in Virginia. Senior Living was able to procure multiple offers and the 300 bed facility sold for $28,500,000 ($95,000 per bed). The community benefits from a quality physical plant featuring private bathrooms in all the resident rooms. Recently, the community enjoyed a significant Medicaid rate increase. Medicaid residents made up approximately 80% of the census while the remaining residents were private pay and Medicare. The census at the time of sale was 95% and the cap rate at the time of sale was 12.7%. The Buyer is a REIT that entered into a long-term lease with an affiliate of the Seller. The transaction will eventually include the adjacent assisted living community which is awaiting TPA approval for the assumption of the existing debt. For additional information on this transaction or how we can assist you in the sale or purchase of your seniors housing community, please contact Bradley Clousing or Patrick Burke of Senior Living Investment Brokerage at 630/858-2501.
