Ryan Saul Handles $63,000,000 Indiana/Iowa Transaction

Ryan Saul recently sold 19 Skilled Nursing Facilities of which 17 were in Indiana and 2 were in Iowa. The total portfolio consisted of 1,159 beds with an overall occupancy of 80% with approximately 12% Medicare and 10% Private Pay. A couple of the communities included assisted living but were higher acuity than normal. The Seller began accumulating his portfolio in 2000 adding a couple of buildings each year through acquisitions. He specialized in smaller, middle market properties that deliver quality care in addition to providing quality Rehab/Medicare services. The owner decided to sell the portfolio to start the transition out of seniors housing. As part of the transaction, the Seller granted the Buyer the option to assume/purchase an additional 12 facilities (prior to 2020) that are currently leased from a public REIT. The Buyer is a Midwest owner/operator that purchased the portfolio using a 1031 exchange related to the sale of a portion of their existing portfolio. The Buyer will absorb the operations into their existing Midwest portfolio of nursing homes. For additional information, please contact Ryan Saul at ryansaul@slibinc.com or 630/858-2501.

Ryan Saul Completes Indiana Nursing Home Sale For Record Price

Ryan Saul sold an 128 Bed Skilled Nursing Facility in Fort Wayne, Indiana. The facility has a stellar reputation for quality care which was reflected in the purchase price of over $100,000/bed. Although originally built in the 1970.s, the Seller had continually invested capital and upgraded the building. It is arguably one of the best SNF's in Indiana. The Seller was an Assisted Living owner/operator that purchased the SNF because it was adjacent to one of his ALF's. The Seller had recently sold his Assisted Living portfolio so he elected to sell the SNF. The Buyer, based in Chicago, aligned with a regional to operate the facility. The operator manages several properties in Indiana and Illinois. The 37,000 square foot building on 4.3 acres was built in the 1970's. The census at the time of sale was 84% with an 80% quality mix. The community sold at a 14.13% capitalization rate/1.4 GIM. For additional information, please contact Ryan Saul at ryansaul@slibinc.com or 630/858-2501.

Ryan Saul Sells Another Indiana Skilled Nursing Facility

Ryan Saul sold a 180 bed skilled nursing facility in Northwest Indiana.  The facility was built in 1972 and was in excellent condition.  The census at the time of sale was 80% with a 38% quality mix.  Senior Living Investment Brokerage, Inc. conducted a confidential sales process while fieldng multiple offers that resulted in a record price per bed for a skilled nursing facility in the State of Indiana.  Ryan, working with the Seller, negotiated a sale price of $12,850,000 ($71,389/bed) for an 11.7% cap rate.  The Seller is a regional owner/operator that has utilized Ryan's services in the past.  This particular facility does not fir their prototype of skilled beds combined with assisted living.  Ryan was able to identify a Buyer from outside of Indiana.  The Buyer currently owns 12 facilities and were actively looking to diversify their portfolio.  They plan on focusing on certain cost centers and raising census.  for additional information, please contact Ryan Saul at ryansaul@slibinc.com or at 630/858-2501.

Ryan Saul Sells Indiana Not-For-Profit SNF

Ryan Saul has sold another Indiana Skilled Nursing Facility. This is the fourth skilled nursing facility Senior Living Investment Brokerage sold for the regional not-for-profit owner/operator. The Seller focuses on hospitals and operates seniors housing when it compliments it's existing hospital campuses. Senior Living was able to procure a Buyer that not only met the mission and operational values of the Seller, but was also financially qualified to complete the transaction. The facility is an 177 bed SNF in Northern Indiana and was operating at a loss. The Buyer purchased the facility and immediately leased it to an operator that runs 59 facilities in Indiana. For additional information, contact Ryan at 630/858-2501 or at saul@seniorlivingbrokerage.com

Ryan Saul Sells Another Indiana Facility

Ryan Saul has sold another seniors housing facility in Indiana. The 41 unit Assisted Living Facility is located in Batesville, Indiana. Built in 2003, the 31,551 square foot facility sold for $2,850,000. Over the past ten years, Ryan has sold more seniors housing facilities in Indiana than any other broker or brokerage team. For additional information on this transaction or any other Indiana transaction or facility, please contact Ryan at 630/858-2501 or saul@seniorlivingbrokerage.com

Ryan Saul Sells Facility for Third Time

Magnolia Health Systems has purchased a 77-unit assisted living facility for $8.0 million that Sunwest had purchased in 2007 for $7.35 million. The property was developed in 2001 for $5.5 million but was only open for a few months before closing its doors for three years. Senior Living Investment Brokerage sold the vacant building in 2004 for $3.8 million. The Buyer then completed extensive renovations before selling it to Sunwest at a much higher price via Senior Living Investment Brokerage. Ryan Saul of SLIB has sold it once again. At the time of the current sale, occupancy was just under 80%. Current rents range from $2,000 to $3,195 per month with an average of $2,400. The new owner should be able to raise rates and occupancy. . Magnolia operates 26 facilities in Indiana, mostly skilled nursing plus a handful of assisted living facilities.