Senior Living Investment Brokerage, Inc. has sold an 114 bed/unit CCRC in a suburb of Wichita Kansas. The 64 bed nursing facility was built in 1969, the 32 Assisted Living units, 14 Alzheimer’s units and 2 Independent Living duplexes were constructed in 1999. The Nursing Facility is located a few blocks from the ALF/ILF campus. The census at the time of sale was 93% SNF and 78% for the ALF/ILF. Despite the overall census, the facility was not profitable. The Seller of the CCRC was a not-for-profit community board. After a very competitive bidding process, the successful buyer was an owner/operator headquartered in the Dallas-Fort Worth area. With an existing presence in Kansas, the Buyer anticipates improving the operating efficiencies.
