Senior Living Sells Texas Assisted Living Portfolio

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Matt Alley and Toby Siefert of Senior Living Investment Brokerage, Inc. sold 9 Assisted Living Communities with a focus on Memory Care located in Houston and San Antonio area. Two of the properties were in the lease up stage and the other seven were stabilized. The properties were built between 2005 and 2014. Resident rates range from $5,500-$5,600 per month. The Seller is a private owner/operator and the Buyer is a non-profit entity expanding their presence in Texas. The purchase was financed through the issuance of bonds. For additional information, please contact Matt Alley at [email protected] or Toby Siefert at [email protected] 630/740-0159

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Sale of CCRC

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Matthew Alley and Ryan Saul recently sold a 137 Bed/Unit Continuing Care Retirement Community (CCRC) in Indiana. The asset, built in 2002, consists of 52 Independent Living Units, 41 Assisted Living Units, 14 Memory Care Units and 30 Skilled Nursing Beds. It is 3 stories, approximately 138,920 square feet on 37.85 acres. Located 25 miles southwest of Fort Wayne, the census at sale was 83% and was marginally profitable. The sale was a Chapter 11 planned bankruptcy sale. Senior Living Investment Brokerage procured multiple offers and closed the transaction within 90 days of commencing marketing. The Buyer is a regional owner/operator with other communities in Indiana. For additional information please contact Ryan Saul or Matt Alley at 630/858-2501

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Senior Living Investment Brokerage, Inc. Sells Portfolio

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Ryan Saul, Brad Clousing and Jeff Binder teamed up to sell a portfolio of 5 seniors housing communities. Four in South Carolina and one in Florida. The total portfolio included 282 assisted living units and average occupancy is 94%. Given the strong occupancy, there appears to be an opportunity to increase rents and further enhance margins and cash flow. The Buyer was a national REIT. This was a strategic acquisition that brought quality, cash flowing opportunities to markets where they have existing operations/holdings. The Seller, decided to sell to exit seniors housing and focus on rehab, LTACH and CCRC’s. In addition, Senior Living Investment Brokerage, Inc. sold 6 additional assets for the Seller which we will report on in a later blog. This portion of the portfolio sold at a 7.52% cap rate. for additional information, please contact Ryan Saul [email protected], Brad Clousing [email protected] or Jeff Binder [email protected]

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Matt Alley of Senior Living Sells Assisted Living Facility

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Matthew Alley of Senior Living Investment Brokerage, Inc. sold a 46 Unit Assisted Living Community in Texas. The asset, located 60 miles southwest of Dallas, is approximately 25,780 square feet and is on 4.14 acres of land. It was built in 1999 and census at the time of sale was 93%. The purchase price was $4,150,000 and the Buyer reimbursed the Seller for the prepayment penalty on its HUD loan. The Seller is an independent owner/operator exiting the seniors housing business. The Buyer is a regional owner/operator based in East Texas. For additional information, please contact Matt Alley at [email protected] or 630/858-2501.

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