George Pappas, Bradley Clousing and Ryan Saul have sold a 60 unit Assisted Living Facility in Nevada. The property consists of 5 buildings each containing 12 units. Although the facility had enjoyed strong occupancy for 20 years (the property was constructed in 1989), in the past two years the census had fallen to 50% due to new competition and a soft housing market. In addition, the facility had it’s share of surey problems in recent years. Prior to close, the survey issues had been cleared and occupancy had been increased to 65%. The Seller was a “hands-off” group of investors. The Buyer is a national owner/operator looking to expand their presence in Nevada. The facility has adequate space to expand and accommodate additional levels of care as well as the opportunity to raise occupancy. For additional information, please contact Ryan Saul, Brad Clousing or George Pappas at 630/858-2501.
