Assisted Living Community Sale

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Assisted Living Community Sale

This transaction consists of two assisted Living communities with a total of 86 units located in two different towns in South Dakota. They are about an hours drive from one another. The first assisted living community is comprised of a total of 60 units. It is approximately 25,663 square feet and is situated on approximately 1.9 acres of land. It was originally constructed in 1995 as a purpose built assisted living community. The other assisted living community is comprised of a total of 26 units. It is approximately 15,800 square feet and is situated on approximately 4.73 acres of land. It was originally constructed in 1997 as a purpose built assisted living community. Both properties have been very well maintained and enjoy good reputations in their respective markets. The MSA population of the first community is approximately 150,000 and the population of the county where the other community is located is approximately 26,000. The census at the time of sale was 53% and the combined communities were losing over $600,000 (EBITDA) annually.

Seller Representation

Despite some of the challenges in marketing properties with negative cash flow, Senior Living Investment Brokerage, Inc. was able to implement an effective marketing plan on behalf of the Seller and procure a qualified Buyer for the two assets and close in a timely manner. The Seller was a local hospital network seeking to divest of the assisted living communities in order to focus on their core business. The Buyer is a Private Equity group based in Southern California. They secured Northstar Senior Living to manage the properties on their behalf.

Contact Senior Living Investment Brokerage, Inc.

For additional information on this Assisted Living Community Sale or on how Senior Living Investment Brokerage, Inc. can assist you with the sale or purchase of an assisted living community, please contact Jason Punzel of Senior Living Investment Brokerage, Inc. at [email protected] or 630/858-2501

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Skilled Nursing Facility Sale

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Skilled Nursing Facility Sale in Alabama

    Skilled Nursing Facility sale recently facilitated in Alabama by Brad Clousing and Ryan Saul of Senior Living Investment Brokerage, Inc. The transaction consists of a 117 Bed Skilled Nursing Facility located in the city of Daphne, Alabama. Daphne is a thriving suburb located 11 miles northwest of Mobile, Alabama. The skilled nursing facility was constructed in stages with original construction in 1966 and additions in 1986, 2001 and 2004. The building consists of approximately 97,173 square feet over three stories.

    Medical Office Building

    The Skilled Nursing Facility sale also included a free standing medical office building. More than half of the medical office building was recently leased to a nationally recognized teneant. The newly executed lease will provide additional revenue going forward for a the new owner.

    Seller Representation

    The Seller purchased the property in 2011 with intentions to grow their skilled nursing portfolio through additional acquisitions in Alabama. However, skilled nursing facility sale opportunities and growth options did not materialize. At the time of sale, this was their only Alabama operations so the decision was made to sell in order to focus on future growth in other regions of the country where they had other skilled nursing operations. The Buyer is an Alabama based not-for-profit organization with strong local ties. They have plans to build on the strong Medicare census and to continue to expand upon their Alabama presence and reputation. They will also be able to reduce expenses and grow census through economies of scale. Senior Living Investment Brokerage, Inc. procured multiple qualified offers for this Skilled Nursing Facility sale and despite delays due to survey and tenant negotiations on the medical office building, the transaction was able to close within five months from commencement of marketing.

    Sales Overview

    The 117 bed skilled nursing facility sale was at 86% census at close of escrow. The cap rate was 4.6% at a 1.1X gross income multiple. Senior Living Investment Brokerage, Inc. was able to procure a sales price of close to $105,000 per bed for the Seller.

    Contact Info

    For additional information on this Skilled Nursing Facility Sale or to inquire how Senior Living Investment Brokerage, Inc. can assist you with your investment objectives, please contact Brad Clousing at [email protected] or Ryan Saul at [email protected] 630/858-2501

    slibinc.com

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Personal Care Community Sale by Brad Clousing

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Personal Care Community Sale

Personal Care Community Sale recently in Georgia by Brad Clousing of Senior Living Investment Brokerage, Inc. This transaction consists of a 41 unit Personal Care Community sale located in Cumming, Georgia. Despite a bankruptcy and a transition in ownership, the asset has performed well under the current interim management company. The asset had experienced volatile swings in performance over the previous twelve months. The census at the time of sale was 80%, the capitalization rate was 8.0% with and EGIM of 2.8X. The property was originally constructed in 1997 and consists of 22,945 square feet. The ultimate sale price was for over $80,000 per unit based upon 41 beds.

Change of Ownership

The bed capacity during the due diligence period was increased to 50 beds and the Buyer has plans for a major cosmetic renovation of the physical plant. The Seller was a California based investment firm that purchaased the asset as part of a non performing loan portfolio acquisition and subsequently foreclosed on the borrower. Senior Living was able to procure a Midwest based regional operator as the Buyer. With their experience with operating personal care homes as well as the increase in bed capacity to 50, the asset should produce future strong perormance and subsequent returns.

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Assisted Living Sale in Georgia

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Assisted Living Sale in Georgia facilitated by Brad Clousing and Jeff Binder of Senior Living Investment Brokerage, Inc. The transaction consists of a 38 unit assisted living sale located in Acworth, Georgia. Acworth is a rapidly growing and strong demographic sub market near Atlanta. The asset was built in 2014 and boasts high end finishes constructed under the new Georgia Assisted Living Licensure standards. The property leased up quickly given the property’s positive reception within the local community and the well planned building with quality finishes combined for 95% census at the time of the assisted living sale.

Transaction Overview

Senior Living Investment Brokerage, Inc. was able to procure multiple qualified offers by implementing a strong marketing effort on behalf of the Seller. The 38 unit assisted living sale was built in 2014 and encompassed 38,646 square feet. The sales price, reflected by the quality construction and care, was $8,400,000 or over $221,000 per unit. The cap rate at the time of sale was 7.75% with a gross income multiple of 3.9X. The Seller was a partnership looking to redeploy assets to new development opportunities. The Buyer was a REIT with the asset to be operated under a long term lease agreement by their affiliate company.

Contact Info

For additional information on this Assisted Living sale or to inquire about the value of your seniors housing property, contact Brad Clousing at [email protected] 630/858-2501 or Jeff Binder at [email protected] 314/961-0070.

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