Nick Cacciabando Sells Colorado Skilled Nursing Facility

Nick Cacciabando was engaged to sell a Colorado Skilled Nursing Facility for a regional owner/operator. This was their only facility and the Seller intends on acquiring a property in their core market, Iowa, using a 1031 Exchange. It is an older building in a quality market in the Denver MSA. Because of the age, the Buyer was able to purchase the facility at a relatively low cost. The Buyer is a start-up owner/operator based in Colorado. The Buyer has identified numerous operating inefficiencies and opportunities within the market. The facility was profitable at the time of sale and sold for a 13.4% capitalization rate/0.8 EGIM. Nick was able to procure multiple offers from interested parties. For additional information, please contact Nick Cacciabando at 314/961-0070 or nbando@slibinc.com

Patrick Burke Handles North Carolina Sale

Pat Burke has sold a 21 unit/42 bed Adult Care Home in North Carolina. The 14,000 square foot building is on 13 acres. The Sellers had plans to develop independent living on the site as well. The census was 88% at the time of sale and had a quality mix of 50% private pay and 50% Medicaid. The Buyer of the community is a local non-profit that owns and operates more than a dozen assisted living facilities in North Carolina. The new owner plans on upgrading the building and possibly adding independent living. The sales price was over $75,000/unit. For additional information, please contact Patrick Burke at 630/858-2501 or burke@slibinc.com

Jeff Binder Sells ALF/MC Community in Iowa

Jeff Binder sold a 42 unit Assisted Living and Memory Care Community in one of the fastest growing cities in Iowa. The community consisted of 36 assisted living units and 6 memory care units. Originally constructed in 1995 as a condominium, it was converted and renovated for assisted living in 2000. The three story building is comprised of approximately 29,000 square feet on 0.6 acres. The spacious units have a number of amenities not typically found in assisted living communities such as gas fireplaces and balconies. At the time Senior Living was hired to market the community, the occupancy was near 70% and had been experiencing a slow decline in performance over the past 4 years. The Seller is an Iowa owner/operator divesting this asset in order to exit the seniors housing sector. The Buyer is a regional owner that plans to use their broader base to gather economies of scale. For additional information on this transaction, please contact Jeff Binder at 314/961-0070 or binder@slibinc.com