Patrick Burke, Bradley Clousing and Toby Siefert of Senior Living Investment Brokerage, Inc. recently closed on an Assisted Living Sale in Virginia. The Assisted Living sale consists of 42 units, 33,480 square feet on 5.3 acres in the scenic Appalachian Mountains of Southwestern Virginia. Of the 42 units, 28 have private bathrooms and 14 units have shared baths btween the resident rooms. The community includes 12 units dedicated to Memory Care. The purpose built building was originally constructed in 1989 with an addition in 1994. The building underwent a major renovation in 2014. Once the improvements were completed, the lender/bank (Seller) did not allow the building to reopen as it was clear ownership was headed to default. As a result, the asset was vacant at the time of sale and had not reopened after the renovations were completed. The Buyer is a Virginia based assisted living and skilled nursing operator with five other locations throughout the State. Licensing was approved upon change of ownership and the new owner hopes to open and lease up the community in 2016. For additional information on this Assisted Living sale or to inquire as to how Senior Living Investment Brokerage can assist you with your investment goals, contact Toby Siefert, Brad Clousing or Patrick Burke at 630/858-2501.

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Toby Siefert, Nick Cacciabando and Pat Byrne of Senior Living Investment Brokerage, Inc. closed on the second skilled nursing facility of a four facility sale. This community was located in Massachusetts with the New Jersey transaction already closed and sales in Vermont and Connecticut pending. The entire portfolio consisted of 436 beds at $27,000,000. The Buyer and Seller agreed to close on each individual facility as the change of ownership for each location was approved. This 1976 constructed skilled nursing facility consists of 73 beds in a one story, 18,541 square foot property. The census at the time of sale was 76% with a 20.8% quality mix. of the 73 beds, there are 13 semi-private resident rooms, 1 three-bed ward and 11 four-bed wards. At the time of sale, the EBITDA was ($41,489). Despite these challenges, Senior Living Investment Brokerage was able to procure multiple offers for the portfolio as a whole. For additional information, contact Senior Living Investment Brokerage, Inc. Toby Siefert at 630/858-2501. Pat Byrne or Nick Cacciabando at 314/961-0070

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