Ryan Saul of Senior Living Investment Brokerage recently announced a Skilled Nursing Facility sale in Illinois. The sale also included a rehab company, in-house therapists and a staffing company. The 106 bed community was originally built in 1972 with a 16 bed, 10,000 square foot addition completed in 1985. The therapy wing was added in 2008 and an interior renovation was completed in 2009. The entire facility is comprised of approximately 40,933 square feet and is in 4.89 acres. At the time of the execution of the sales contract, occupancy was 93% on 100 functional beds and the contract price was $13,500,000. But based on a census MAC clause, the final sales price was adjusted by ($127,358). The Seller was a family owned business exiting the long-term care industry. Due to current market M & A conditions, they made the decision now was an ideal time for them to divest of their skilled nursing facility and retire.The Buyer, a private family based organization, was also based out of Illinois and owns and operates a nearby skilled nursing facility. The Buyers intend on doing an expansion to the current building with all private suites. The quality mix at the time of sale was 98%. The transaction closed at an 8.23% cap rate, 0.70 GIM and over $126,000 per bed. For additional information on this Skilled Nursing Facility Sale or for a confidential analysis of your seniors housing property, contact Ryan Saul of Senior Living Investment Brokerage, Inc. at 630/858-2501 or ryansaul@slibinc.com


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Grant Kief

Author Grant Kief

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