Skilled Nursing Facility Sale in Georgia
Ryan Saul and Bradley Clousing of Senior Living Investment Brokerage, Inc. recently handled a 213 Bed Skilled Nursing Facility sale in Augusta, Georgia, home of the Masters Golf Tournament. This Skilled Nursing Facility sale was part of a Chapter 11 bankruptcy auction. The contract sales price was $3,700,000, however, as part of the purchase agreement, there was a credit of $250,000 for assumption of future callbacks and prior operation liability. The skilled nursing home was operating at a ($738,000) annual deficit at the time of sale. The census was on 41%. The gross income multiple at the time of sale was 0.80X.
The Seller was a not-for-profit organization. The Buyer is a local, not-for-profit hospital based system. They own and operate additional long-term care communities in the area. They plan on transferring 20 of the beds to a another nearby skilled nursing facility they own. They also have plans to invest in the physical plant in order to capture higher census and improve the financial performance.
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For additional information on this Skilled Nursing Facility sale, please contact Ryan Saul at firstname.lastname@example.org or Bradley Clousing at email@example.com 630/858-2501