Skilled Nursing Facility Sale in Texas

Skilled Nursing Facility Sale recently by Matthew Alley of Senior Living Investment Brokerage, Inc. in Texas. The transaction consisted of a 110 bed skilled nursing facility comprised of 53 semi-private resident rooms and 4 private resident rooms. The asset is approximately 37,043 square feet and is situated on approximately 6.123 acres of land. The community is located approximately 30 miles from Odessa, Texas and is a smaller , more rural town. The skilled nursing facility was built in 1996 and the census at the time of sale was 67%. The cap rate for the sale was 14.9% and the gross income multiple was 1.21. The facility is enrolled in the UPL Program in Texas which is supplements the Medicaid rate. This program produces approximately $384,000 in revenue annually but is not included in the EBITDA calculation. The Seller is an owner operator from Central Texas. This was their only skilled nursing facility in West Texas. The Buyer is an operator headquartered in the Dallas Fort Worth area and they operate several skilled nursing communities in this region. The will improve the operations by utilizing their economies of scale.

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For additional information on this Skilled Nursing Facility Sale or to inquire as to how Senior Living Investment Brokerage, Inc can assist your company with acquisitions or dispositions of seniors housing assets, please contact Matthew Alley at [email protected] or 630/858-2501

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Skilled Nursing Facility Sale conducted recently by Toby Siefert, Nick Cacciabando and Pat Byrne of Senior Living Investment Brokerage, Inc. in Connecticut. This was the third facility acquired as part of a four facility portfolio sale by a Canadian based skilled nursing facility owner. The Buyer and Seller had agreed to close escrow on each facility as the change of ownership for each property was approved by each state. With the closing of this skilled nursing facility sale, their is only one deal left to close which is in Vermont. The skilled nursing facility transactions in Massachusetts and New Jersey closed in 2015. This three story facility was built in 1972 and is 61,085 square feet. The facility is licensed for 162 beds and there are 2 private resident rooms, 28 semi private resident rooms and 26 four bed resident rooms. The census at the time of sale was 80% with a 16.2% quality mix. The most notable area of upside is increasing not only the census but the quality mix back to levels achieved in previous years when the skilled nursing facility demonstrated positive net operating income. At the time of the sale, the facility was experiencing a negative EBITDA of over ($1,000,000). The gross income multiple was .34X at the time of sale. Senior Living Investment Brokerage, Inc. was able to procure multiple qualified offers for the four skilled nursing facility portfolio which benefited the Seller because there was minimal interest in acquiring this particular skilled nursing facility as a single asset. The Buyer is a newly formed partnership of owners based in New York that will also operate the portfolio of skilled nursing facilities. For additional information on this Skilled Nursing Facility sale or to inquire how Senior Living Investment Brokerage, Inc. can assist you or your company with acquisitions or dispositions, please contact Toby Siefert [email protected], Nick Cacciabando [email protected] or Pat Byrne [email protected].

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