Ryan Saul and Ross Sanders of Senior Living Investment Brokerage, Inc. sold a 75 bed Skilled Nursing Facility in Grinell, IA. Constructed in 1965 and having gone through a number of renovations and additions over the years, the facility was in overall good condition. At the time of the sale, occupancy was approximately 44% with a Private Pay mix at 30%. No capitalization rate was applicable due to negative income at the facility. The Seller was a regional owner/operator based in South Dakota looking to divest of this underperforming asset. The Buyer is also a regional owner/operator with plans to invest additional capital into the facility, increase overall census and improve profitability through economies of scale. For additional information please contact Ross at 314/961-0070 or Ryan at 630/858-2501.
