Patrick Byrne and Ross Sanders Sell Iowa Skilled Nursing Facility

Ross Sanders and Patrick Byrne sold a 50 bed skilled nursing facility in Western Iowa.  The facility had experienced a sharp decline in revenue recently due to a new facility opening nearby.  Although the facility was unprofitable and was facing competition for residents from a newer facility, Pat and Ross were able to procure multiple offers from local and regional Buyers.  The Seller was an owner/operator from outside the state that wanted to focus on their core markets.  The new owners are committed to improving the asset and giving it additional attention.  Also, the reimbursement environment in Iowa is improving which will have a significant improvement on the bottom line.  For additional information, please contact Ross Sanders or Patrick Byrne at 314/961-0070.

Sanders, Binder and Byrne Sell Two Iowa Facilities

Ross Sanders, Jeff Binder and Patrick Byrne sold two seniors housing facilities in the Des Moines, Iowa area- Genesis Senior Living Center and Regency Care Center and Assisted Living. Genesis Senior Living Center is an 80 bed Skilled Nursing Facility located in southern Des Moines. The facility was constructed in phases; 1962, 1975 and 2006. Regency Care Center and Assisted Living is located in Norwalk and consists of two separate buidings on the same campus; a 101 bed Skilled Nursing Facility and a 30 unit Assisted Living Facility. The SNF was built in 1976 with an addition in 1983 while the ALF was built in 2007. At the time of sale, the overall census for the entire portfolio was 83.3%. The sale price of $12,650,000 or $59,953/bed/unit translated to a 12.4% capitalization rate/1.22 GIM. The Seller was a regional owner. The Buyer intends on investing capital while improving operations and increase overall census. Senior Living Investment Brokerage was able to work with the Seller to implement a national marketing plan and field multiple qualified offers on the portfolio. For additional information, please contact Patrick Byrne, Jeff Binder or Ross Sanders at 314/961-0070.

Ross Sanders and Jeff Binder Sell 100 Bed Iowa SNF

Jeff Binder and Ross Sanders sold a 100 Bed Skilled Nursing Facility in northwest Iowa in a town of over 10,000 residents. At the time of the sale, the facility was underperforming and had a census of 35%. The Seller is a regional owner/operator who was one of the original investors in the facility. The Buyer will invest capital into the facility and work to increase the overall census. Constructed in 1970, the one story facility is comprised of approximately 27,781 square feet on 2.3 acres. The building is only partially sprinklered. For additional information, please contact Ross Sanders or Jeff Binder at 314/961-0070.

Ross Sanders and Ryan Saul Handle Iowa SNF Sale

Ryan Saul and Ross Sanders of Senior Living Investment Brokerage, Inc. sold a 75 bed Skilled Nursing Facility in Grinell, IA. Constructed in 1965 and having gone through a number of renovations and additions over the years, the facility was in overall good condition. At the time of the sale, occupancy was approximately 44% with a Private Pay mix at 30%. No capitalization rate was applicable due to negative income at the facility. The Seller was a regional owner/operator based in South Dakota looking to divest of this underperforming asset. The Buyer is also a regional owner/operator with plans to invest additional capital into the facility, increase overall census and improve profitability through economies of scale. For additional information please contact Ross at 314/961-0070 or Ryan at 630/858-2501.

Sanders, Alley and Saul Handle Iowa SNF Transaction

Matt Alley, Ryan Saul and Ross Sanders sold a 40 Bed Skilled Nursing Facility in Central Iowa. The facility was owned and operated by a multi-state owner/operator based in Minnesota. The Buyer is a regional owner/operator looking to expand his current operations in Iowa. The new owner seeks to improve on a number of operational inefficiencies. The census was 82% and the facility sold for 1 10% capitalization rate. Senior Living utilized it's brokerage team to locate an unique buyer for a smaller, rural facility and close quickly. Our individual brokers specialize in long term care facilities in specific markets yet work as a team to find the right buyer. Let us know if you would like to meet with one of our brokers to prepare a confidential proposal for your facility.

Ross Sanders and Jeff Binder Close on Iowa SNF

Jeff Binder and Ross Sanders have sold a 49 Bed Skilled Nursing Facility in Southwest Iowa. Senior Living was able to procur three full price offers on the facility and close the transaction within 47 days of the execution of the LOI. Through diligent marketing efforts, Senior Living was able to find and close the transaction with a Buyer that was new to the industry. The Seller is a local for profit board; this was the only facility they owned. For additional information, please contact Ross or Jeff 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.

Senior Living Announces Iowa SNF Sale

Jeff Binder, Ryan Saul and Ross Sanders sold a 102 Bed Skilled Nursing Facility in one of the largest cities in Iowa. Constructed in 1976, the facility is in good condition and is comprised of approximately 29,000 square feet on 2.83 acres. Census was 66% at the time of sale.
The Seller is a for-profit group of investors and they were the original owners of the facility. This was their only long-term care facility.
The West Coast based Buyer owns/operates a number of skilled nursing facilities in both the Midwest and West Coast. The new owners seek to significantly enhance the Medicare census by offering a number of new therapy programs at the facility. The Buyer looks forward to taking advantage of the new Quality Assurance Program/Provider Tax which the State of Iowa implemented in April 2010. Please contact Ross, Ryan or Jeff for additional information.

Ross Sanders Closes Independent Living Facility Transaction in Iowa

Ross Sanders of Senior Living's St. Louis office has sold a 16 unit Independent Living Facility in Iowa. The facility is located in one of the largest cities in Southeast Iowa and was constructed in 2000. The Seller was a Texas based investment group that purchased the asset out of foreclosure in 2006. The Buyer is a local seniors housing owner/operator who hopes to increase census and cut operating costs. The new owner will also have the opportunity to almost double the size of the existing facility on the vacant 3 acres included in the purchase. For additional information please contact Ross at 314/961-0070.