Ryan Saul and Jeff Binder Sell Seniors Housing Community in Iowa. Senior Living Investment Brokerage , Inc. was hired to sell a Skilled Nursing and Residential Care Facility (SNF/RC) and an Independent Living Community (ILF). Construction was 1965 – 2003 for the SNF/RC and in 1936 and 1986 for for the ILF. The 160 bed SNF is approximately 68,457 square feet on 8.52 acres. A portion of the building lacked a sprinkler system. Census at the time of sale was 35%. The ILF is approximately 45,553 square feet on 5.41 acres. The occupancy of the ILF at the time of sale was 74%. The communities are within a half a mile of each other. The Seller was a public REIT that divested a non-core, under-performing asset. The Buyer is an operator based in Indiana. They own other communities in Iowa so they plan on gaining operating efficiencies on expenses and leverage a strong regional leadership team. They plan to invest in the skilled nursing facility physical plant to attract residents an increase census. They will also need to install a complete sprinkler system in the SNF. For additional information on this seniors housing community or to discuss other seniors housing opportunities, please contact Ryan Saul at ryansaul@slibinc.com or Jeff Binder at binder@slibinc.com of Senior Living Investment Brokerage, Inc.
