Nick Cacciabando and Jeff Binder have sold a CCRC in Kansas for a national owner/operator. The campus is comprised of a 140 bed Skilled Nursing Facility, a 37 unit Assisted Living Facility and 82 units of Independent Living. The property was originally developed in 1988 and underwent extensive remodeling/renovation in 2006 and 2007. The impact of these improvements are being realized in the steadily improving financial and census reslts since completion. Census at the time of sale was 95% and the property sold at a 9% cap rate.
The Buyer is a Real Estate Investment Trust (REIT) which owns senior living properties throughout the United States.
Tuesday, October 27, 2009
Thursday, October 8, 2009
Senior Living Sells LTC Facility in Dallas
Jeff Binder, Matthew Alley and Ryan Saul sold a 264 bed SNF/39 unit ILF in Dallas, Texas on September 30, 2009. The 206,000 square foot facility on 22 acres was originally developed in 1960 and has undergone various renovations over the years. The Independent Living is comprised of stand alone cottages on the campus grounds. The facility's census was 87% at the time of the sale and sold for 13.5% capitalization rate. If you have any questions regarding this transaction, please call Jeff, Matt or Ryan.
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