Ryan Saul and Jeff Binder were engaged to sell an 824-bed, six facility skilled nursing portfolio in Illinois.  The properties were constructed between 1963 and 1996.  The facilities census in 2012 averaged 74% (14% private pay/15% Medicare payor mix).  Revenues were $45,000,000 and the purchase price was $48,500,000.  The Seller is an owner/operator of long-term care properties in the Midwest.  The Buyer is an Illinois based owner/operator of seniors housing facilities.  The Buyer plans on focusing on improving the overall occupancy and specifically the Medicare census.  An additional benefit for the buyer will be the incorporation of the $3.0 million management fee.  An Illinois bank provided financing.  For additional information, contact Jeff Binder at binder@slibinc.com or Ryan Saul at ryansaul@slibinc.com   


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Grant Kief

Author Grant Kief

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