Assisted Living sale was recently handled by Patrick Burke of Senior Living Investment Brokerage, Inc. The transaction consisted of a 48 unit/ 96 bed Assisted Living Community which included Memory Care units. The facility is licensed for 64 Adult Care Home Beds and 32 Special Care beds. The property was built in 1984. Located in Greensboro, North Carolina, the community was purchased by its current owners in 2004. The property is three stories with 16 units/ 32 beds on each floor. All of the units are 315 square feet with a private bathroom with a shower. Each room can accommodate two residents using twin bedding. The occupancy based on private and semi-private resident rooms being utilized was 71/ 83 occupiable beds or 85%. The facility is approximately 50% Private Pay and 50% Medicaid. There have been many changes in the reimbursement on both the Adult Care and Special Care beds which caused the Net Operating Income to recently decrease. The Seller was a father and son who were not the operators of the facility. Due to the recent uncertainty with Medicaid reimbursement, the partners made a decision to sell their only seniors housing asset. Senior Living Investment Brokerage, Inc. was able to procure several pre qualified offers on the Assisted Living Community. The cap rate was not applicable to the $3,650,000 sales price due to the underperformance of the property. The GIM for the facility was 1.81X. The Buyer is a national owner/ operator who currently has an operating presence in North Carolina. They new owners plan on spending upwards of $500,000 upgrading the facility and also utilizing their marketing expertise couple with their economies of scale to improve census and net operating income. For additional information on this transaction or for an analysis of the value of your Assisted Living Community, Memory Care Community, Independent Living Community, Skilled Nursing Facility or CCRC, please contact Patrick Burke at email@example.com or 630/858-2501.