Senior Living Investment Brokerage Sells Assisted Living Facility in Florida

/in , , /by

FacebookTwitterGoogle+

Brad Clousing and Patrick Burke of Senior Living Investment Brokerage represented the Seller of a 53 unit Assisted Living Community in Florida just north of Palm Beach.  Originally built as a nursing home, it was converted to an assisted living facility in 2004.  It boasts an updated physical plant and expansive enclosed courtyard.  The Seller was a North Carolina based partnership and this was their only seniors housing asset in Florida.  The Buyer is a South Florida based regional operator that intends to make additional physical plant upgrades, explore providing memory care services and increase rates and subsequent margins.  The property sold for $3,900,000 at an 8.8% cap rate.  Multiple offers were procured by Senior Living Investment Brokerage for selling the assisted living facility.  For additional information, please contact Patrick Burke at [email protected] or Bradley Clousing at [email protected]  630/858-2501

The post Senior Living Investment Brokerage Sells Assisted Living Facility in Florida appeared first on Senior Living Investment Brokerage.

Assisted Living Facility in Texas Sold by Senior Living Brokerage

/in , , /by

FacebookTwitterGoogle+

Matthew Alley and Jason Punzel represented the Seller of a 37 unit assisted living facility in Texas.  The community, located 35 miles northwest of Houston, is 20,793 square feet on 4.3 acres of land.  It was built in 1999 with an addition in 2005.  The assisted living community had been just above break even for 2013 and 2014 but was full with a waiting list at the time of the sale.  The Seller is an independent owner/operator exiting the seniors housing business.  The Buyer is a regional owner/operator based in Oregon.  The sales price $2,700,000.  For additional information, please contact Matt Alley at [email protected] or Jason Punzell at [email protected]   630/858-2501

The post Assisted Living Facility in Texas Sold by Senior Living Brokerage appeared first on Senior Living Investment Brokerage.

Senior Living Sells Memory Care and Assisted Living Facility in Indiana

/in , , , , , /by

FacebookTwitterGoogle+

Jeff Binder and Ryan Saul recently worked together to sell a memory care and assisted living community of 124 units in Indianapolis, IN.  The community consists of 82 assisted living units and 42 memory care units.  The assisted living wing was constructed in 1999 and renovated in 2009 whereas the memory care wing was constructed in 2007.  The community is comprised of 113,000 square feet on 2.5 acres.  At the time of sale, the overall census was approximately 80%.  The Seller of the memory care and assisted living community was a publicly traded REIT utilizing a regional operator.  The Buyer is a private, regional owner that sold their portfolio a few years ago and is seeking to reenter the seniors housing market.  The new owner plans to increase occupancy by bringing in a Medicaid Waiver certification and focus on building census.  Senior Living Investment Brokerage sold the facility for $17,000,000.  For additional informaton, please contact Ryan Saul at [email protected] or Jeff Binder at [email protected]

The post Senior Living Sells Memory Care and Assisted Living Facility in Indiana appeared first on Senior Living Investment Brokerage.

10 Key Things When Buying or Selling a Nursing Home or Assisted Living Facility

/in , , , , /by

FacebookTwitterGoogle+

If you are in the market to buy or sell a nursing home or assisted living facility, there are a number of items to consider as it relates to the Purchase Agreement and Transition.  While we can’t identify and answer all the issues, the following represent some of the key items to consider:

  1. Make sure title and zoning are conforming
  2. Understand your successor liability post closing
  3. Finalize contract schedules early in the process (i.e. allocation of purchase price)
  4. Know when the CHOW is filed depending on state to ensure timely close
  5. Sellers calculate PTO to employees and Buyers identify when that will be paid out
  6. Identify assumed contracts vs. terminated contracts and potential costs associated
  7. When to inform staff about a sale and who do you bring into the know
  8. Review loan docs to ensure there are no lock outs or cost surprises
  9. Sellers compile due diligence information before sales process starts
  10. Buyers stand ready with the due diligence list to accompany LOI

 

Please contact Ryan Saul if you are considering buying or selling a nursing home, long-term care or Seniors Housing Community.

The post 10 Key Things When Buying or Selling a Nursing Home or Assisted Living Facility appeared first on Senior Living Investment Brokerage.