Perhaps we (Senior Living Investment Brokerage, Inc.) take
such things for granted since we have been involved in the Seniors Housing
sector for so long, but there can be a list of people who need to be made aware
of the pending sale of a long-term care facility. Most notably, the state
regulatory authority, where notice of a change of ownership must be made
anywhere from a few days to several months prior to closing. Obviously, when
you see an approval period of multiple months, the rest of the structure of the
transaction must take this into consideration. We are strong believers in
having all contingencies removed prior to notifying the state of the change of
ownership. Therefore, there could be several months between the end of due
diligence and closing. The longer this time period, the greater likelihood
something material can occur which potentially could impact the transaction: a
bad survey, dramatic change in census, key personnel leaving, etc. While
it is common for a seller to feel comfortable at this point in the transaction,
it is crucial to maintain operational focus to minimize the risk of any event
occurring which could derail the deal. Senior Living Investment Brokerage, Inc.
remains a key partner in the transaction process, and we are aware of the many
challenges a Seller faces while going through the sales process. Having
closed transactions in so many different states, we are aware of the nuances of
dealing with different states and the challenges of navigating the final months
of a transaction.
Tuesday, May 29, 2012
Tuesday, May 22, 2012
Important Tax Information
The following article is important tax information for anyone considering the sale of their seniors housing facility. Contact Grant Kief at kief@slibinc.com or 630/858-2501 if you would like a marketing analysis prepared for your property.
http://online.wsj.com/article/SB10001424052702303879604577410143118102490.html
http://online.wsj.com/article/SB10001424052702303879604577410143118102490.html
Monday, May 21, 2012
Brad Clousing and Ryan Saul Handle Florida ALF Sale
Ryan Saul and Bradley Clousing sold a 63 unit Assisted Living and Memory Care Facility in central Florida. The facility, constructed in 2010, is located adjacent to The Villages, a premier retirement community with over 80,000 residents ages 55 and over.The facility was constructed under the HUD 232 program. Since opening in 2010, the facility has steadily improved to over 80% occupancy. The improving census combined with the location and newer construction, should make this a successful investment for the new owners. For addisitional information, please contact Brad or Ryan at 630/858-2501.
Friday, May 18, 2012
How Senior Living Can Help
It is more than just finding a seller and matching up a buyer. One area where we help get a deal done is managing the back end once a purchase agreement is executed. Most recently, appraised values are coming into question. Senior Living Investment Brokerage, Inc. knows all of the active, qualified appraisers in the Seniors Housing Industry. How can we help?
Wednesday, May 16, 2012
Brad Clousing Sells 168 Unit Florida Assisted Living Facility
Bradley Clousing sold a 169 unit Assisted Living/Memory Care Facility located in the St. Petersburg/Tampa Bay MSA. The facility was built in 2010 and consists of 168 units/218 beds and 8 commercial suites. The facility has enjoyed a steady lease-up to over 80% occupancy since opening and outpacing the initial projections. The facility had existing assumable, non-recourse HUD debt with favorable terms. For additional information on this transaction or information regarding the Florida seniors housing market, contact Brad Clousing at 630/858-2501 or clousing@slibinc.com
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