Nick Cacciabando has sold a 75 bed Skilled Nursing Facility in Iowa. The facility was family owned and operated since it was developed in 1966. This was the Seller’s only seniors housing community and they are retiring from the business. The Buyer purchased this facility utilizing a 1031 Exchange. This was a strategic acquisition as they have an existing presence in Iowa and are planning on realizing operational efficiencies through economies of scale. The census at the time of sale was 85% and the property sold for a 8.9% capitalization rate/.72 GIM. For additional information on this transaction, contact Nick at 314/961-0070 or nbando@slibinc.com
