Ryan Saul and Patrick Burke sold a 59 unit Independent Living and Assisted Living Facility located in Green Bay, Wisconsin. Originally built in 2004, the facility underperformed due to low rents and historical census aroound 65%. In 2006, the owner defaulted on their loan with a regional bank. In 2007, a court appointed receiver was assigned which hired an experienced seniors housing operator that began offering additional services, increased census and raised rents. Through a well implemented marketing plan, Senior Living Investment Brokerage was able to field multiple, qualified offers on the facility. The facility ultimately sold for $2,600,000 which translates into a 1.5% capitalization rate/4.8 GIM (no, the numbers are not transposed). Senior Living specializes in assisting owners/sellers in the sale of distressed assets. For additional information, please contact Patrick or Ryan at 630/858-2501.