Toby Siefert and Patrick Burke Sell Virginia Assisted Living Community

Patrick Burke and Toby Siefert represented the Seller of a 48 unit Assisted Living Community I Virginia located about 20 miles outside of Richmond. The Seller had struggled with occupancy and profitability for several years. The Buyer is a joint venture including a national operator and a private equity group. The new ownership group plans to invest upwards of $1,000,000 renovating the facility and converting it to all memory care. For additional information, contact Toby or Patrick at 630/858-2501.

Brad Clousing and Jeff Binder Sell Alabama 116 Unit Seniors Housing Community

Jeff Binder and Brad Clousing recently sold a seniors housing community in Alabama that consisted 68 independent living units, 32 assisted Living units and 16 memory care (SCALF) units for $20,000,000. The 129,000 square foot building was constructed in 2000/2002. The community's financial performance has been stable over the past 12 months and the census has remained steady at 95% or better. The community is located on approximately 20 acres and offers the new owner the opportunity to expand. The Buyer, an institutional owner/operator, assumed the existing FNMA insured debt(70% LTV/6.47% interest rate). The Buyer elected to assume the debt given the approximate prepayment/yield maintenance penalty of $2.75 million. The loan matures June 2018. The Seller is a local partnership exiting the seniors housing industry. The Buyer is a national operator expanding their footprint within Alabama. For additional information contact Brad Clousing at clousing@slibinc.com or Jeff Binder at binder@slibinc.com

Ryan Saul Sells $23,000,000 Seniors Housing Communtiy in Illinois

Ryan Saul sold a 171 bed/unit seniors housing community in the south suburbs of Chicago. The 87,105 square foot community consisted of 37 Assisted Living/24 Memory Care and 110 Skilled Nursing Beds/Units on 11.78 acres. The SNF was built in 1989, ALF in 1999 and the MC in 2009. The skilled nursing portion had a 38% quality mix at the time of sale. The Seller purchased the community in 2009 as part of a portfolio of properties in Indiana, Kentucky and Illinois. The Seller had holdings in all of these states except Illinois. The intent was to look for other opportunities to grow in Illinois, but that strategy did not materialize. Because the Illinois community was an outlier, the decision was made to sell and deploy the capital to their core growth areas. The Buyer is a regional owner/operator with more than 50 properties in Illinois. The property sold at an 11.2% cap rate/2.0 GIM. Ryan was able to generate multiple offers in a very short marketing period while maintaining confidentiality throughout the process. For additional information, please contact Ryan Saul at ryansaul@slibinc.com or 630/858-2501.

Tom Rusthoven and Brad Clousing Sell Three Assisted Living Communities in Michigan

The three Assisted Living Communities are located within a mile of each other in Southeast Michigan. The buildings, constructed in 1985 and 1992, have a total of 78 units. One of the buildings is dedicated to memory care services. The transaction sold at an 11.9% capitalization rate for over $68,000 per unit. The Buyer is a regional owner operator planning to implement additional marketing resources to neighboring Ohio residents as a means to increase census from the current 65%. For additional information, please contact Tom Rusthoven at rusthoven@slibinc.com or Brad at clousing@slibinc.com or 630/858-2501.

Matt Alley and Jeff Binder Handle Texas Memory Care Facility Sale

Jeff Binder and Matt Alley recently sold a 36 unit/48 bed Texas Memory Care Facility approximately 65 miles northwest of San Antonio. Built in 1997, the property is approximately 25,000 square feet and is situated on 2.5 acres of land. The community was underperforming due in part to recent turnover in staff. The census at the time of sale was 56%. The Buyer expects to be able to take advantage of increasing the marketing budget and stabilizing the staffing. The Seller is a national REIT divesting non-performing assets. The Buyer is a regional owner/operator based in Texas. For additional information, Please contact Matt Alley at alley@slibinc.com or Jeff Binder at binder@slibinc.com

Brad Clousing and Patrick Burke Sell a Florida Assisted Living Community

Brad Clousing and Patrick Burke recently sold a 50 Unit Assisted Living Community in Naples, Florida. The transaction was subject to the assumption of an approximately $3.3 million HUD loan and replacement reserve balance. The sale price of the 1997 building was $5,600,000. The census at the close of escrow was 80% and the cap rate was 3.7%. The Seller was a partnership based in Naples and operated by a related entity. The Buyer was a Memphis based partnership and will be operated by a Florida based management firm. The Buyer intends to improve census and operating margins through a dedicated focus on memory care. For additional information on this or other Senior Living Investment Brokerage transactions, please contact Brad at clousing@slibinc.com or Patrick at burke@slibinc.com 630/858-2501

Brad Clousing and Matt Alley Represent Seller of Alabama ALF/MC Community

Matt Alley and Brad Clousing sold a 27 unit Assisted Living/15 unit Memory Care (SCALF) Community in Jacksonville, Alabama. The building is approximately 26,500 square feet on approximately 4.6 acres and was built in 2009. The site offers an expansion opportunity and the Seller has an active CON for an additional 9 SCALF beds that are not being utilized. The Buyer intends on expanding the building with a new separate secured memory unit and potentially adding cottages to the site. The Seller is a local partnership that is exiting the industry. The Buyer is a regional owner/operator and this is their first acquisition in Alabama. The asset was at 79% occupancy at the time of sale and sold for a 7.3% capitalization rate. For additional information, please contact Brad at clousing@slibinc.com or Matt at alley@slibinc.com 630/858-2501

Brad Clousing and Ryan Saul Sell Georgia Personal Care/Memory Care Community

Ryan Saul and Brad Clousing sold a Personal Care and Memory Care community in Oakwood, Georgia. Oakwood is located in the northern portion of the Atlanta MSA. It was built in 1998 and underwent an extensive renovation and additional units were added at this time bringing the total square footage to 36,766. Census at the time of sale was 92%. The Buyer is an institutional owner/operator. It was a cash purchase with the intent of placing FNMA debt on the asset. The Seller was a local owner that used a third party manager. The purchase price was $11,750,000. For additional information please contact Ryan at ryansaul@slibinc.com or Brad at clousing@slibinc.com 630/961-2501

Clousing, Saul and Binder Sell Georgia Assisted Living/Memory Care Community

Brad Clousing, Ryan Saul and Jeff Binder teamed together to sell a 93 unit Assisted Living/Memory Care community in north central Georgia. The community consisted of 74 assisted living units and 19 memory care units on 15 acres. The community consists of 2 buildings, built in 2011 and 2012, an additional 20 unit expansion permitted and graded overlooking a private lake. The property leased up ahead of schedule and was fully stabilized by April of 2013. The Seller is a local developer of which this was their first seniors housing development. The Buyer is a national REIT and the asset will be operated by their affiliated operating company. Senior Living Investment Brokerage was able to procure a sale price of $236,833 per unit at a 7.5% capitalization rate.

Senior Living Investment Brokerage, Inc. Sells Oregon Assisted Living Facility

Senior Living Investment Brokerage, Inc. facilitated the sale of a 32 unit/38 bed assisted living facility in eastern Oregon. The Seller is a local owner/operator that originally developed the building in 1995. They are retiring from the business. The Buyer is a regional operator out of Idaho looking to expand their presence in the region. The census at the time of sale was 97% and the ultimate sales price of $2,700,000 ($84,375/unit) for a 11.3% capitalization rate. The Buyer also has an option on an adjacent 5.7 acre parcel of land with the intention of developing a secure memory care facility. For additional information, please contact Senior Living at 630/858-2501 or 314/961-0070 www.slibinc.com

Jeff Binder Sells ALF/MC Community in Iowa

Jeff Binder sold a 42 unit Assisted Living and Memory Care Community in one of the fastest growing cities in Iowa. The community consisted of 36 assisted living units and 6 memory care units. Originally constructed in 1995 as a condominium, it was converted and renovated for assisted living in 2000. The three story building is comprised of approximately 29,000 square feet on 0.6 acres. The spacious units have a number of amenities not typically found in assisted living communities such as gas fireplaces and balconies. At the time Senior Living was hired to market the community, the occupancy was near 70% and had been experiencing a slow decline in performance over the past 4 years. The Seller is an Iowa owner/operator divesting this asset in order to exit the seniors housing sector. The Buyer is a regional owner that plans to use their broader base to gather economies of scale. For additional information on this transaction, please contact Jeff Binder at 314/961-0070 or binder@slibinc.com

Jeff Binder, Matt Alley and Toby Siefert Team Up to Sell New Mexico Assisted Living/Memory Care Community

Senior Living Investment Brokerage, Inc. was engaged to sell a 69 unit Assisted Living and Memory Care community in New Mexico.  The building consists of 54 assisted living units and 15 memory care units.  Originally constructed in 1964 as a hotel, the building was converted in 1990 to seniors housing.  The building was subsequently renovated in 2002 and again in 2010.  The one and three story building is comprised of approximately 63,500 square feet on 2.4 acres.  The community has a strong operating history and an excellent reputation in the market.  At the time of sale, the census was 87%.  The Seller is a national owner/operator based in Oregon who was divesting this asset to utilize the capital for other corporate purposes.  The Buyer is a regional owner/operator based on the east coast.  For additional information, please contact Toby Siefert or Matthew Alley at 630/858-2501 or Jeff Binder at 314/961-0070.  www.slibinc.com

Senior Living Investment Brokerage Sells Nebraska Assisted Living Community

Jeff Binder, Brad Clousing and Ryan Saul teamed together to sell a Nebraska Assisted Living Community for $6,600,000.  It is a purpose built (2002/2005), quality facility offering a mix of assisted living and memory care units.  The facility is also set up to accept Medicaid residents.  Although the occupancy in 2011 struggled, it has historically done well and recovered in 2012.  The Seller was a partnership with plans to redeploy capital to other uses.  The GP owns assets in other states and plans on focusing his attention and resources on those assets.  The Buyer sees significant upside in the facility and has other operations in the region.  They will focus on increasing the private pay occupancy.  There is an additional 1.5 acres of land adjacent to the facility to develop independent living units or expand the existing AL/MC.  For additional information contact Jeff Binder at 314/961-0070 or Brad and Ryan at 630/858-2501.  www.slibinc.com

Ryan Saul Represents Indiana Assisted Living/Memory Care Facility Seller

Ryan Saul has sold a 58 unit Assisted Living/30 unit Memory Care community in Fort Wayne, Indiana.  The Seller, a multi-family housing owner, partnered with a skilled nursing operator to develop this state-of-the-art, 82,000 square foot AL/MC community.  The Seller made a strategic decision to sell in order to focus on his core business of multi-family housing.  In addition, he decided to take advantage of the strong seniors housing market.  The Buyer, a regional owner/operator, sees significant untapped potential in this community.  The Buyer intends to implement the Medicaid Waiver program, trim staffing and increase operating efficiencies.  The facility was operating at over 97% census and sold for a 7.06% capitalization rate/$131,250 per unit.  For additional information, please contact Ryan Saul at 630/858-2501 or ryansaul@slibinc.com 

Siefert, Clousing and Binder Team up to Sell Two ALF/ILF Campuses

Jeff Binder, Brad Clousing and Toby Siefert have sold 2 Independent Living and Assisted Living campuses in Pennsylvania.  Both campuses offered a mix of personal care and memory care units.  In addition, one of the sites had privately owned, two bedroom cottages while the other site has independent living units and owner occupied  condominiums.  The campuses have a total of 184 units and current census was 85%.  The properties sold for over $100,000/unit at an 8% capitalization rate.  The facilities are both located in desirable markets with strong demand for quality, purpose built seniors housing.  The Sellers, a local group, had decided to retire and this was their only senior housing assets.  Senior Living Investment Brokerage was hired for their reputation and ability to maintain confidentiality throughout the sales process.  Senior Living was able to procure multiple qualified offers on the properties.  The Buyer is a regional owner/operator with plans to continue to grow their operating presence in Pennsylvania.  For additional information, please contact Toby Siefert or Brad Clousing at 630/858-2501 or Jeff Binder at 314/961-0070. 

Jeff Binder Sells Las Vegas Assisted Living/Memory Care Facility

Jeff Binder has sold a 58 unit/64 bed aasisted living building and a 20 unit/45 bed memory care building.  Included in the sale was an undeveloped parcel between the buildings that could be used for expansion of one or both of the facilities.  The Seller, a regional owner/operator, decided to divest of the property in order to focus on their larger facilities in the area.  At the time of sale, the facility was underperforming.  The Buyer is a regional operator from California.  They plan on increasing operating efficiencies and use their their marketing experience to improve census.  The Buyer is also in the process of purchasing another Las Vegas facility which they can use to increase hteir cost center efficiencies.  The buildings were constructed in 1996/1997.  Even though the facilities were underperforming, Senior Living Investment Brokerage, Inc. was able to field multiple offers and ultimately sell the facilities for $4,000,000.  For additional information on this sale or on how Jeff can assist you with the  confidential sale of your facility, contact Jeff at 314/961-0070 or binder@slibinc.com 

Ryan Saul Sells Assisted Living/Memory Care Facility in Ohio

Ryan Saul has sold a 61 unit assisted living/memory care facility in Ohio.  Ryan had previosly sold the facility 4 years ago for $6 million.  It had been operationg just below breakeven and the Buyer's plan was to expand in the state.  The owner's plans changed and they made the decision to focus on other states within their portfolio.  The new Buyer, based out of Kentucky, plans on increasing occupancy by utilizing the Medicaid waiver which the facility was certified for in July.  For additional information please contact Ryan Saul at 630/858-2501.

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.

Brad Clousing and Jeff Binder Sell Alabama Assisted Living/Memory Care Facility

Jeff Binder and Brad Clousing sold a 92 unit assisted living and memory care facility in Alabama. The facility, built in 2006, consists of 28 assisted living units and 32 memory care units. In addition, there are 30 independent living cottages which were built in phases through 2008. The campus consists of 20 acres and offers the new owner an opportunity for expansion. Occupancy has been holding steady at 90% and the facility's financial performance has been stable over the past 12 months. The facility is 100% private pay. Senior Living Investment Brokerage was able to work with the Seller to obtain a price of $123,000/unit at an 8.5% capitalization rate. The attractive, well maintained facility coupled with it's excellent reputation attracted offers from across the country, The eventual Buyer is a national owner/operator. For additional infromation, please contact Brad Clousing at clousing@slibinc.com or binder@slibinc.com

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.