SLIB has had a successful start to 2019! Here are some recent highlights, closings and news from the last few weeks:
Closed: $15.5M+ SNF Sold in Tuscaloosa MSA, Alabama
SLIB’s first closing of the year involved a 182 bed SNF. Forest Manor is well regarded in the local market and has a well maintained physical plant. The $15.5M+ transaction closed January 4th, 2019. Bradley Clousing, Toby Siefert and Daniel Geraghty handled the transaction. Inquire for more details or view our press release here.
Featured: McKnight’s Long Term Care News Discusses Lending Environment with Jeff Binder
In January, McKnight’s Long Term Care News published an article featuring SLIB’s Jeff Binder discussing today’s lending environment for SNF operators. Read the article here, and contact Jeff Binder with any questions.
Closed: $15.75M+ AL/IL/MC Sold in Atlanta MSA, Georgia
SLIB arranged the successful sale of a 125 unit AL/MC/IL asset for $15,750,000 in the greater Atlanta area. The first building houses 32 assisted living and 32 memory care units, while the second building houses 61 independent living units. The property earned an EBITDAR of $1.3M+ at the time of sale. The transaction closed January 23rd. Bradley Clousing handled the transaction. For more details, view our press release here.
Featured: Seniors Housing Business Latest Issue with Jason Punzel
This February, NREI released the latest issue of Seniors Housing Business. Jason Punzel shared insights on investment strategy in today’s market in the article, “Buy, Sell or Hold.” Read the article here, and contact Jason Punzel with any questions.
Closed: $13.6M SNF Sold in Reno, Nevada
SLIB closed a competitive bid process for a 174 bed SNF in Reno. The sale included vacant land on-site that could be used for future expansion. This facility earned more than $1.5M in EBITDAR, in spite of bed occupancy averaging between 60-65%. Matthew Alley, Jason Punzel, Brad Goodsell and Vince Viverito handled the transaction, which closed February 1st. For more details on the transaction, view our press release here.
Closed: 100+ Bed SNF Sold in East Texas
SLIB arranged the transaction of a 100+ bed SNF in Camp County of East Texas. This deal leveraged SLIB’s nationwide and local expertise as the purchaser is a mid-sized owner-operator located in Texas. There were some regulatory issues at the facility, which the Buyer hopes to correct and build census. Matthew Alley handled the transaction, which closed February 1st. For more details, view our press release here.
Closed: ALP Sold in Upstate New York
SLIB successfully secured a buyer for an ALP in Upstate New York. According to Dave Balow, who arranged the transaction, “Due to the limited supply of ALP beds in NY, and the high margins present for each ALP resident, demand for ALP beds in NY is extremely high.” For more details on the transaction, which closed February 1st, view our press release here.
For more information on any of these transactions, or if you want to know what your Seniors Housing Community may be worth, please contact our brokerage team at 630-858-2501.