Senior Living Investment Brokerage, Inc. Sells 60 Unit Nevada ALF

George Pappas, Bradley Clousing and Ryan Saul have sold a 60 unit Assisted Living Facility in Nevada. The property consists of 5 buildings each containing 12 units. Although the facility had enjoyed strong occupancy for 20 years (the property was constructed in 1989), in the past two years the census had fallen to 50% due to new competition and a soft housing market. In addition, the facility had it's share of surey problems in recent years. Prior to close, the survey issues had been cleared and occupancy had been increased to 65%. The Seller was a "hands-off" group of investors. The Buyer is a national owner/operator looking to expand their presence in Nevada. The facility has adequate space to expand and accommodate additional levels of care as well as the opportunity to raise occupancy. For additional information, please contact Ryan Saul, Brad Clousing or George Pappas at 630/858-2501.

Toby Siefert Debuts with a Virginia ALF Sale

Toby Siefert handled the $3,500,000 sale of a 142 unit Assisted Living Facility in Central Virginia. Prior to the sale, the owner increased the licensed bed capacity from 191 to 225. This facility is considered an "AG Home" (Auxilary Grant) since roughly 80% of the revenues come from the acceptance of state reimbursement while the remaining 20% of residents are private pay. This palys heavily on the sale price/cap rate. The building, built in 1980 and renovated in 2008 and 2010, sits on 18 acres. This was the only seniors housing property the Seller owned. The Buyer, a local operator with multiple assisted living facilities throughout the state, used an SBA loan for financing the purchase of the stock of the company as opposed to an asset purchase. Congratulations Toby. For additional information, please contact Toby Siefert at 630/858-2501 or siefert@slibinc.com

Organize First...then sell

Senior Living Investment Brokerage provides value added brokerage services. Our job does not end with the selection of a buyer. In today's environment, managing deals and being prepared for deals going into escrow can be crucial. We work with our sellers on the front end to make sure that they are prepared for due diligence on the back end. It is a good idea to begin collecting due diligence information early in the process. That way, we are prepared when the deal goes under Letter of Intent.

If you are thinking about selling, you should contact a professional that can help you organize for future selling needs. Please contact me at Ryan Saul or 630-858-2501 to discuss how I can help you get organized if the need to sell comes up in the future.

Jeffrey Binder and Bradley Clousing Sell $30,750,000 ALF/ILF Portfolio

Brad Clousing and Jeff Binder sold a portfolio of 3 Assisted Living and Independent Living facilities located in central Illinois. The three facilities are located within 90 miles of each other and are easily accessible to major highways. The facilities had a total of 183 units with a census of 96%. The facilities were constructed between 2007 and 2009. The Seller is a national owner/operator of seniors housing who divested of these assets to utilize the capital for other projects. The Seller's affiliated operating company will remain in place via a third-party management agreement. For additional information, please contact Jeff Binder at binder@slibinc.com or Brad Clousing at clousing@slibinc.com

Nick Cacciabando, Matthew Alley and Jeff Binder Sell an Oklahoma Skilled Nursing Facility

Jeff Binder, Matt Alley and Nick Cacciabando teamed up to sell a Skilled Nursing Facility in Oklahoma. The facility was owned and operated by a local family. The facility was built in 1964 and 1969 and was at 93% occupancy at the time of the sale. The Buyer is a regional owner/operator based in Texas who will be expanding its current operations into Oklahoma. For additional information, please contct Nick or Jeff at 314/961-0070 or Matt at 630/858-2501.

Senior Living Sells Phoenix, Arizona Assisted Living Facility

Nick Cacciabando, Ryan Saul and Jeff Binder sold a 92 Bed/82 Unit Assisted Living and Memory Care Facility in Phoenix, Arizona. The Seller, a Detroit based bank, acquired ownership of the property through foreclosure in June 2011. The 45,422 square foot building was approximately 61% occupied at the time Senior Living commenced marketing of the facility. The main payor source is Medicaid which totaled over 80% of revenue.Senior Living was able to generate multiple offers. The ultimate Buyer was selected in part because the offer had no financing contingency and they were able to close quickly. The Buyer is a national owner/operator with an existing presence in the market. The facility was built in 1974 and had a negative EBITDA of ($158,605). The sales price was $3,225,000 ($39,329/unit). For additional information please contact Jeff Binder or Nick Cacciabando at 314/961-0070 or Ryan Saul at 630/858-2501.

Bradley Clousing and Ryan Saul Sell Alabama SNF and Medical Office Building

Ryan Saul and Brad Clousing sold a 117 Bed Skilled Nursing/25 Bed Inpatient Rehab Facility in Alabama. Also included in the transaction was a free standing administrative/medical office building. Both buildings were located on the same 12 acre parcel of land. The SNF just received Medicaid certification in 2010 helping with the recent surge in census. The Seller is a local non-profit which will maintain offices in the administaration building to focus on their PACE, Home Health and Hospice businesses. The Buyer is an operator of a large portfolio of facilities across the U.S. although this is their first asset in Alabama. For additional information, please contact Brad Clousing or Ryan Saul at 630/858-2501.