Friday, January 14, 2011
Senior Living Sells Ohio Assisted Living/Alzheimer's Care Facility
Jeff Binder, Ryan Saul and Brad Clousing have sold a 102 unit Assisted Living and Alzheimer's Care Facility in Ohio for $17,500,000. Constructed in 1998, the facility is 69,184 square feet on 4.5 acres. The Seller is a national owner/operator and the Buyer is a Florida based real estate investment company who intends on keeping the current management in place. The facility sold for a 8.5% cap rate and a 2.9 GIM.
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Hi Dude,
ReplyDeleteThe seller, a regional senior living operator, sold the facility to divest of its skilled nursing facilities to focus on their assisted living assets. The seller, a national owner or operator of seniors housing, sold this asset to utilize the capital for other corporate purposes. Thanks for sharing it.....