This Skilled Nursing Facility was a strategic disposition that simply did not fit into the long term investment strategy of the Seller. The Buyer is a regional operator and assumed the existing HUD insured financing. The facility had struggled with survey issues in the past and the rate environment in Washington, D.C. can be somewhat unpredictable.
The 296 bed facility was built in 1982 and is 136,142 square feet. It sold for a 14.1% capitalization rate/.50x GIM. This was the first D.C. Skilled Nursing Facility to sell in 10 years.
If you would like additional information, please contact Brad or Jeff.