Senior Living Investment Brokerage Sells Assisted Living Facility in Florida

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Brad Clousing and Patrick Burke of Senior Living Investment Brokerage represented the Seller of a 53 unit Assisted Living Community in Florida just north of Palm Beach.  Originally built as a nursing home, it was converted to an assisted living facility in 2004.  It boasts an updated physical plant and expansive enclosed courtyard.  The Seller was a North Carolina based partnership and this was their only seniors housing asset in Florida.  The Buyer is a South Florida based regional operator that intends to make additional physical plant upgrades, explore providing memory care services and increase rates and subsequent margins.  The property sold for $3,900,000 at an 8.8% cap rate.  Multiple offers were procured by Senior Living Investment Brokerage for selling the assisted living facility.  For additional information, please contact Patrick Burke at [email protected] or Bradley Clousing at [email protected]  630/858-2501

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Assisted Living Facility in Texas Sold by Senior Living Brokerage

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Matthew Alley and Jason Punzel represented the Seller of a 37 unit assisted living facility in Texas.  The community, located 35 miles northwest of Houston, is 20,793 square feet on 4.3 acres of land.  It was built in 1999 with an addition in 2005.  The assisted living community had been just above break even for 2013 and 2014 but was full with a waiting list at the time of the sale.  The Seller is an independent owner/operator exiting the seniors housing business.  The Buyer is a regional owner/operator based in Oregon.  The sales price $2,700,000.  For additional information, please contact Matt Alley at [email protected] or Jason Punzell at [email protected]   630/858-2501

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Senior Living Sells Memory Care and Assisted Living Facility in Indiana

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Jeff Binder and Ryan Saul recently worked together to sell a memory care and assisted living community of 124 units in Indianapolis, IN.  The community consists of 82 assisted living units and 42 memory care units.  The assisted living wing was constructed in 1999 and renovated in 2009 whereas the memory care wing was constructed in 2007.  The community is comprised of 113,000 square feet on 2.5 acres.  At the time of sale, the overall census was approximately 80%.  The Seller of the memory care and assisted living community was a publicly traded REIT utilizing a regional operator.  The Buyer is a private, regional owner that sold their portfolio a few years ago and is seeking to reenter the seniors housing market.  The new owner plans to increase occupancy by bringing in a Medicaid Waiver certification and focus on building census.  Senior Living Investment Brokerage sold the facility for $17,000,000.  For additional informaton, please contact Ryan Saul at [email protected] or Jeff Binder at [email protected]

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