Ross Sanders, Jeff Binder and Patrick Byrne sold two seniors housing facilities in the Des Moines, Iowa area- Genesis Senior Living Center and Regency Care Center and Assisted Living. Genesis Senior Living Center is an 80 bed Skilled Nursing Facility located in southern Des Moines. The facility was constructed in phases; 1962, 1975 and 2006. Regency Care Center and Assisted Living is located in Norwalk and consists of two separate buidings on the same campus; a 101 bed Skilled Nursing Facility and a 30 unit Assisted Living Facility. The SNF was built in 1976 with an addition in 1983 while the ALF was built in 2007. At the time of sale, the overall census for the entire portfolio was 83.3%. The sale price of $12,650,000 or $59,953/bed/unit translated to a 12.4% capitalization rate/1.22 GIM. The Seller was a regional owner. The Buyer intends on investing capital while improving operations and increase overall census. Senior Living Investment Brokerage was able to work with the Seller to implement a national marketing plan and field multiple qualified offers on the portfolio. For additional information, please contact Patrick Byrne, Jeff Binder or Ross Sanders at 314/961-0070.
