Nick Cacciabando and Patrick Byrne Sell Oklahoma Portfolio

Patrick Byrne and Nick Cacciabando have sold two seniors housing campuses in Tulsa and Bristow, OK, for a local family. The Tulsa campus comprised of a 116 unit senior independent living facility, a 90 unit assisted living and residential care facility and a 117 bed skilled nursing facility. The Bristow campus comprised of a 106 bed skilled nursing facility and a 16 unit assisted living facility. The Seller was a local family that had been in the business for 50 years. They were the original owners/developers of these communities. These were their only LTC/Seniors Housing assets. The Buyer is a regional owner/operator with an existing presence in Oklahoma. For additional information on this transaction or how Nick or Pat can assist you with the sale of your family owned/operated seniors housing community, please call 314/961-0070 or contact Nick at nbando@slibinc.com or Pat at byrne@slibinc.com

Patrick Byrne, Nick Cacciabando and Matt Alley Team up to Sell Missouri ALF

Senior Living Investment Brokerage, Inc. sold a 23 unit, 46 licensed bed assisted Living community in Missouri. The building is approximately 11,600 square feet constructed in 1996 on approximately 4 acres of land. The community is located just outside of Branson, Missouri. The building has historically ran close to 100% census with stable financials. The sales price $2,300,000 ($100,000/bed) produced a cap rate of 10.5%/3.02 EGIM. The Seller was is an independent owner/operator exiting the business. The Buyer is a regional owner/operator based in Idaho with other operations in Missouri. For additional information, please contact Pat or Nick at 314/961-0070 or Matt at 630/858-2501

Nick Cacciabando Sells Kansas Retirement Community

Nick Cacciabando has sold a 54 bed Skilled Nursing Facility and 40 unit Residential Care Facility. Census at the time of sale was 94.7% and the capitalization rate was 9.9%. The communities were family owned and operated by a local owner/operator. These were the Seller's only remaining long term care/seniors housing communities as they are retiring from the business. The Buyer is a regional owner/operator with numerous properties and their headquarters are nearby. This was a strategic acquisition as they have a significant presence in Kansas and are hoping to realize operational efficiencies through economies of scale. For additional information, please contact Nick at nbando@slibinc.com or 314/961-0070.

Nick Cacciabando Sells Iowa Skilled Nursing Facility

Nick Cacciabando has sold a 75 bed Skilled Nursing Facility in Iowa. The facility was family owned and operated since it was developed in 1966. This was the Seller's only seniors housing community and they are retiring from the business. The Buyer purchased this facility utilizing a 1031 Exchange. This was a strategic acquisition as they have an existing presence in Iowa and are planning on realizing operational efficiencies through economies of scale. The census at the time of sale was 85% and the property sold for a 8.9% capitalization rate/.72 GIM. For additional information on this transaction, contact Nick at 314/961-0070 or nbando@slibinc.com

Nick Cacciabando Brokers Iowa SNF

Nick Cacciabando has sold a 75 bed Skilled Nursing Facility in Iowa. The facility was owned and operated by the same family since it was developed in 1966. This was their only long term care/seniors housing facility and they are retiring from the business. The Buyer utilized a 1031 Exchange in purchasing the facility. This was a strategic acquisition for the Buyer as they have over 10 facilities in Iowa. Census at the time of sale was 85% and the sale resulted in an 8.9% capitalization rate. For additional information, please contact Nick Cacciabando at 314/961-0070 or nbando@slibinc.com

Matthew Alley and Nick Cacciabando Sell 100+ Beds in Texas

Nick Cacciabando and Matt Alley sold 100+ Medicaid-certified beds in Texas. Under Texas regulations, the Buyer will be able to utilize a 25% increase in Medicaid beds when building a new nursing home. The Buyer is a developer that also owns several Skilled Nursing facilities in Texas and has plans to build a new facility and benefit from the additional beds issued by the state. For additional information on how Senior Living can assist you in the sale or purchase of Medicaid beds in a CON state, please contact Matt at alley@slibinc.com or Nick at nbando@slibinc.com

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

Nick Cacciabando and JeffBinder Handle Oklahoma Transaction

Jeff Binder and Nick Cacciabando represented the Seller of a 60 bed skilled nursing facility in Marshall County, Oklahoma.  The facility, which was built in 1976, was owned and operated by a local family and has a great reputation in the southern Oklahoma community.   The Buyer is a regional owner/operator expanding their operations in Oklahoma.  They plan to improve on a number of operational inefficiencies.  Although the facility was only operating at 60% census, it was profitable and sold at a 15.1% capitalization rate.  For additional information, please contact Nick or Jeff at 314/961-0070.

Nick Cacciabando Represents Kansas SNF/RCF Seller

Nick Cacciabando has sold a 59 bed skilled nursing and 13 bed residential care facility in southwest Kansas.  The facility was owned by a local non-profit owner/operator.  The Buyer is an owner/operator based in Denver, Colorado, with an existing presence in southwest Kansas.  The facility's census was 74.7% and the operations had been running at a deficit for the past few years.  The one story building contains approximately 31,500 square feet and was originally constructed in 1963 with additions in 1988, 1995 and 2001.  For additional information please contact Nick Cacciabando at 314/961-0070 or nbando@slibinc.com 

Cacciabando, Alley and Binder Sell Kansas Facility

Jeff Binder, Matt Alley and Nick Cacciabando have sold a 56 bed skilled nursing/20 unit assisted living facility in Kansas.  The facility is located in Rose Hill, Approximately 18 miles outside of Wichita.  The one-story, 33,000 square foot facility was built in 1971 and 1978 and renovated in 2001-2002.  At the time of the sale, the census was 94% and the property sold at a 14% cap rate/.97x GIM for $55,900/bed/unit.  The Seller was a local owner/operator.  Senior Living was able to generate multiple offers and after a competitive bidding process, the successful Buyer was an owner/operator headquartered in the Dallas-Fort Worth area with an existing presence in Kansas.  For addisional information on this sale or to request a confidential proposal on your seniors housing facility, contact Senior Living Investment Brokerage, Inc.

Nick Cacciabando, Matthew Alley and Jeff Binder Sell an Oklahoma Skilled Nursing Facility

Jeff Binder, Matt Alley and Nick Cacciabando teamed up to sell a Skilled Nursing Facility in Oklahoma. The facility was owned and operated by a local family. The facility was built in 1964 and 1969 and was at 93% occupancy at the time of the sale. The Buyer is a regional owner/operator based in Texas who will be expanding its current operations into Oklahoma. For additional information, please contct Nick or Jeff at 314/961-0070 or Matt at 630/858-2501.

Senior Living Sells Phoenix, Arizona Assisted Living Facility

Nick Cacciabando, Ryan Saul and Jeff Binder sold a 92 Bed/82 Unit Assisted Living and Memory Care Facility in Phoenix, Arizona. The Seller, a Detroit based bank, acquired ownership of the property through foreclosure in June 2011. The 45,422 square foot building was approximately 61% occupied at the time Senior Living commenced marketing of the facility. The main payor source is Medicaid which totaled over 80% of revenue.Senior Living was able to generate multiple offers. The ultimate Buyer was selected in part because the offer had no financing contingency and they were able to close quickly. The Buyer is a national owner/operator with an existing presence in the market. The facility was built in 1974 and had a negative EBITDA of ($158,605). The sales price was $3,225,000 ($39,329/unit). For additional information please contact Jeff Binder or Nick Cacciabando at 314/961-0070 or Ryan Saul at 630/858-2501.

Patrick Byrne and Nick Cacciabando Sell SNF Portfolio in Arkansas and Missouri

Nick Cacciabando and Patrick Byrne sold the 506 bed, 5 facility Pinnacle Healthcare portfolio. The transaction also included Pinnacle Healthcare's home office located in Arkansas. Four of the facilities are located in Arkansas and one is located in Missouri. The facilities were built between 1971 and 1988 and all have sound physical plants. The entire portfolio had struggled as recently as a few years ago but new management had improved the operations despite being relatively new to the seniors housing industry. This is the first purchase in Arkansas for the Buyer, Adcare Health Systems. They plan on using the home office to service current and future facilities in the region. The portfolio sold for $20,000,000 at a 12.1% capitalization rate. Adcare anticipates improved operations due to their management experience. Senior Living Investment Brokerage, Inc. was able to work with the sellers to implement and execute a marketing plan which in turn generated multiple offers on the portfolio. For additional information, please contact Pat Byrne or Nick Cacciabando at 314/961-0070.

Jeff Binder and Nick Cacciabando Facilitate Kansas Seniors Housing Sale

Nick Cacciabando and Jeff Binder sold a 55 bed Skilled Nursing/19 bed Residential Care Facility in Central Kansas. The Seller is a regional owner/operator who was making a strategic divestiture to deploy capital and resources to other investment opportunities. The Buyer is a regional long-term care provider with a strong presence in Kansas. Their core business has centered on smaller, rural, skilled nursing facilities. With a successful history of increasing profit margins, this facility fits in well with their portfolio. The Buyer completed a simultaneous sale-leaseback with a private REIT. The facility was built in 1963 with numerous additions and renovations over the years. The facility census was 65% and sold at a 13.9% cap rate. For additional information, please contact Nick or Jeff at 314/961-0070.

Jeff Binder and Nick Cacciabando Facilitate Kansas ALF Sale

Nick Cacciabando and Jeff Binder have sold a 45 unit Assisted Living Facility in Kansas for $2,500,000 or $55,555/unit. Constructed in 1970 with a 17 unit addition in 2004, the facility sold at a 10.1% capitalization rate. The one story building is 25,000 square feet on almost 2.5 acres. The facility is in good condition and was 100% occuppied at the time of sale. for additional information, please contact Jeff or Nick in the St. Louis office at 314/961-0070.

Senior Living Announces Mississippi Senior Housing Sale

Ross Sanders, Nick Cacciabando and Jeff Binder have sold a Seniors Housing Community in Brandon, Mississippi. The two story building consists of 75 Assisted Living units and 25 Memory Care units. Constructed in 1999, the facility is comprised of 85,000 square feet and sits on 5.4 acres. The occupancy at the time of sale was 98% and sold for $10,600,000 ($106,000/unit) at a 9% capitalization rate. For additional information please call the St. Louis office at 314/961-0070.

Cacciabando and Binder Sell Four Nebraska Skilled Nursing Facilities

Jeff Binder and Nick Cacciabando represented a national provider in the sale of four underperforming skilled nursing facilities in Nebraska. Originally built in the 1970's, this 214 bed portfolio had been upgraded since the mid-1990's and are in above average condition. This package was a strategic disposition as the facilities did not fit into the long-term investment vision of the seller.

The Buyer is a regional long-term care provider with a strong presence in the Midwest. Their core business has centered on returning distressed, smaller, rural SNF facilities to profitability. With a successful track record of turning around similar underperforming/distressed facilities, this package will fit in well with their portfolio.

For additional information, please contact Nick or Jeff at 314/961-0070.

Sale of CCRC Announced

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.

Senior Living Announces Two Sales

Jeff Binder and Nick Cacciabando sold a 39 bed Assisted Living Facility in the Oklahoma metropolitan area. The facility sold for over $105,000/unit and at a 9.9% capitalization rate. The Seller was a regional owner/operator and the buyer is a local owner operator with three other senior housing facilities. Financing was provided by a regional bank out of Kansas City.

Ryan Saul sold a facility in Dayton, OH, with 331 licensed skilled beds and 57 independent living units. The 445,000 square foot facility on 25+ acres was built in 1930 and sold by one of the largest Catholic health systems in the country. At the time of sale, the facility had negative cash flow. Financing was provided by a national bank out of Chicago.

Senior Living Announces Sale of Skilled Nursing/Independent Living Facility

Nick Cacciabando of Senior Living Investment Brokerage, Inc. sold an 115 bed Skilled Nursing/40 unit Independent Living Facility in Southwestern Kansas. The facility was in receivership due to bond default and the Buyer utilized a 1031 Exchange. Financing was provided by a regional bank.

Grant A. Kief
Senior Living Investment Brokerage, Inc.