Ryan Saul and Patrick Byrne have sold a 29 unit Assisted Living Facility in Metro East St. Louis for almost $100,000 per unit. The Seller had purchased the facilty to take advantage of an expiring 1031 exchange. He had no prior seniors housing experience and the facility struggled as a result. The Buyer is an experienced senior housing owner/operator and is confidentthey will be able to create efficiency within the operations. The facility, built in 1999, was sold with an adjacent lot that the new owners intend to use to expand the facility to 40-45 units. The sales price netted a 6.6% cap. rate. For additional information, please contact Patrick Byrne or Ryan Saul.
