Ross Sanders and Patrick Byrne sold a 50 bed skilled nursing facility in Western Iowa. The facility had experienced a sharp decline in revenue recently due to a new facility opening nearby. Although the facility was unprofitable and was facing competition for residents from a newer facility, Pat and Ross were able to procure multiple offers from local and regional Buyers. The Seller was an owner/operator from outside the state that wanted to focus on their core markets. The new owners are committed to improving the asset and giving it additional attention. Also, the reimbursement environment in Iowa is improving which will have a significant improvement on the bottom line. For additional information, please contact Ross Sanders or Patrick Byrne at 314/961-0070.
