Senior Living Investment Brokerage, Inc. Announces Sale Of Independent Living Facility, Metropolis, Ill.

Senior Living Investment Brokerage, Inc. facilitated the sale of an Independent Living Facility located in Metropolis, Illinois, approximately 150 miles southeast of St. Louis and across the Ohio River from Paducah, Kentucky. The one‐story structure, consisting of 47 units, was originally built in 2002 with subsequent additions in 2007 and 2009. Operations have been relatively stable since 2007 as occupancy has remained around 100%. During due diligence, a nine unit addition was negotiated. Six of these nine new units were filled at closing. The buyer, a regional operator based in
the state, expects to gain some economies of scale benefits as well as improving operations with their added expertise.

The facility sold for $4.225 million, or approximately $89,900 per unit. Patrick Byrne and Jeff Binder represented the seller. "At a time when traditional financing sources are scarce, we are happy to announce our 15th transaction of the year. We have been able to navigate through this difficult financing market due to our hands on approach ‐ helping to arrange the buyer's debt in this transaction while maintaining our unparalleled commitment to our seller" stated Patrick Byrne.

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