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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Senior Living Represents Florida Assisted Living/Memory Care Seller

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Bradley Clousing and Ryan Saul sold a 64 Unit Assisted Living and Memory Care Community located in southwest Florida. The property has 48 units designated assisted living and 16 units for memory care. Built in 1983, it was extensively renovated in 2005/2006. The community boasts stabilized occupancy of over 95% and approximately 40% of the residents utilize managed care for funding. The Seller was a Virginia based private investor and the Buyer is a large capital goup and it will be operated on their behalf by a Florida based operator. The 43,428 square fot building sold for $7,450,000. For additional information on how Senior Living Investment Brokerage, Inc. can assist you, please contact Ryan Saul at [email protected] or Brad Clousing at [email protected]

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When is the best time to list a seniors housing or nursing home community?

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I’m often asked when is the best time of year to list a seniors housing or nursing home asset?  We are all used to residential real estate agents telling us to list in the Spring while the weather is starting to change (at least for us Northerners).

Does it matter for seniors housing communities?

Yes and no.  While there is not the seasonality in the seniors housing market as there is in the residential market, there are good and less optimal times for getting buyers’ (even institutional buyers’) attention.

I would argue that we are entering into one of those sweet spots as we get into the middle of September.  Typically, Senior Living Investment Brokerage, Inc. has its highest volume of listings in September and early October.

Why is that?

During the Labor Day / beginning of October time frame, Buyers have made it through the Summer and are looking to deploy capital before the end of the year.  They are hoping to make one last push to meet their aggressive beginning of the year expansion goals.

With a typical 3-4 month closing period, now is as good of a time as any to consider listing your property with Senior Living Investment Brokerage, Inc.  We can help you procure the right Buyer, who can close the transaction prior to year-end.  Many Buyers are looking to “get money out the door” by December 31st and this may give you an advantage in coercing those groups into making a more aggressive bid than they would in the middle of the year.

If you have any questions on the topic of this post or would like a confidential valuation of part or all of your seniors housing portfolio, please contact Matthew Alley at 630-858-2501 ext. 225 or [email protected].

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Another nursing home portfolio sells $1.125 billion!

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Nursing Portfolio Sold

There aren’t many private nursing home portfolios left. Private and public REITs have been buying up available portfolios as fast as they come to market. In addition, these financial buyers have been strategically targeting quality portfolios that may not have even thought about selling.  In the news today, another nursing home portfolio sells in this torrid market.

Case and point, Griffin American Healthcare REIT III, Inc. announced today that they will acquire the Trilogy Health Services nursing home portfolio for $1.125 billion.  This is a blockbuster acquisition at a time that big portfolios and big announcements have been scarce.

The Trilogy Health Services portfolio consists of high quality, high Medicare facilities that are the market leaders in their respective communities.  The portfolio totals 96 communities in Kentucky, Indiana, Ohio and Michigan.

To read more, click here: Sale Details

Now is an ideal time to explore the sale of your community or portfolio.  Please contact Ryan Saul at Senior Living Investment Brokerage for a confidential proposal that will help determine market value.

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