Pat Byrne has sold a CCRC located in a suburb of Kansas City, Missouri. The facility consists of 112 skilled nursing beds, 46 residential care beds (23 units) and 48 independent living units and was built in 1992. This represents the seller’s last senior housing asset. Although the facility’s profit margins had dropped in receent years despite a relatively consistent census, the Buyer looks forward to achieving profit margins experienced as recently as 3 years ago. The Seller had also recently placed attractive, assumable HUD debt on the property. The facility also benefited from a recently funded $6.00 PPD Medicaid rate increase and another rate increase is scheduled for the near future. The Buyer is an Ohio based REIT which will be leasing the property to a Missouri based operator. The purchase price was $13,500,000. For additional information, please contact Patrick Byrne at 314/961-0070 or byrne@slibinc.com
