Patrick Byrne and Ryan Saul Sell Assisted Living Facility in Southern Illinois

Ryan Saul and Patrick Byrne have sold a 29 unit Assisted Living Facility in Metro East St. Louis for almost $100,000 per unit. The Seller had purchased the facilty to take advantage of an expiring 1031 exchange. He had no prior seniors housing experience and the facility struggled as a result. The Buyer is an experienced senior housing owner/operator and is confidentthey will be able to create efficiency within the operations. The facility, built in 1999, was sold with an adjacent lot that the new owners intend to use to expand the facility to 40-45 units. The sales price netted a 6.6% cap. rate. For additional information, please contact Patrick Byrne or Ryan Saul.

Clousing and Binder Sell East Coast Florida Assisted Living Facility

Jeff Binder and Brad Clousing have sold a 44 unit assisted living facility on A1A in Florida. The 44 unit facility is 32,000 square feet and was built in 1996. Census at closing was 60%. The Seller is one of the larger owner/operators in the U.S. and had purchased the facility as part pf a multi-state/multi-facility transaction in 2006. The Buyer is a regional operator out of Florida.
The Seller assisted the Buyer by providing Seller financing in the form of a second mortgage. The primary financing is being provided in the form of conventional financing by a regional lender out of Central Florida.
Please contact Brad or Jeff for additional information.

Brad Clousing Sells Hollywood, Florida Assisted Living Facility

Brad Clousing has sold a 78 unit assisted living facility in Hollywood, FL, April 1, 2010. All the units are studios and there is approximately 3,000 square feet of medical office space in the building. The owners were looking to exit the senior housing market and were the owners since it's original construction in 1999. The Buyer, TJM Properties out of Clearwater, assumed the existing HUD loan but simultaneously executed an A& to reset the rate and leverage. The facility sold for over $100,000/unit at a 7.1% capitalization rate. For additional information on this transaction, please contact Brad Clousing at 630/858-2501.

Ryan Saul and Brad Clousing Sell ALF/SNF in Alabama

Brad Clousing and Ryan Saul sold a 50 unit Assisted Living/20 bed Skilled Nursing Facility for a large non-profit corporation based in Alabama. The 46,000 square foot home was built in 1994. The 20 bed SNF is housed in a separate wing, has all private rooms and is only certified for Medicare, not Medicaid and is typically full. The assisted living wing averages occupancy of 65% and has a unit mix of 32 studios, 8 suites and 10 one bedrooms. The Buyer is a regional operator out of Alabama and utilized conventional financing through a local bank.

Brad Clousing and Ryan Saul Announce Sale of Two Florida Assisted Living Facilities

Brad Clousing and Ryan Saul handled the sale of two Assisted Living Facilities in Southwest Florida, March 1, 2010. The facilities had 184 units combined (92 units each) and were built in 1999. For the Seller, it was a strategic disposition. The Seller, a national skilled nursing operator, had purchased these assets as part of a portfolio transaction that included skilled nursing facilities. The Buyer is a regional operator based in Florida who utilized conventional financing arranged through a regional bank. The properties sold for a 5.46% capitalization rate. For additional information, please contact Ryan or Brad.

Time to Sell?

Is now a good time to sell? We are experiencing a lack of properties available across the country. Many buyers of assisted living and skilled nursing have been sitting on the sidelines waiting for the right opportunity to get back in the M&A market.

Local and regional lenders are active in the market and are currently looking to place loans. If you have ever thought about selling, I believe now is an ideal time. Capital gains and interest rates are going to increase. Take advantage of limited supply available with high demand in the market to maximize your pricing. I am available for a confidential proposal to help you determine the current market value for your facility.

Contact me via Email by clicking here (Ryan Saul).

Sincerely,

Ryan Saul
Managing Director
Senior Living Investment Brokerage, Inc.

Brad Clousing and Jeff Binder Close Washington, D.C. Sale

This Skilled Nursing Facility was a strategic disposition that simply did not fit into the long term investment strategy of the Seller. The Buyer is a regional operator and assumed the existing HUD insured financing. The facility had struggled with survey issues in the past and the rate environment in Washington, D.C. can be somewhat unpredictable.

The 296 bed facility was built in 1982 and is 136,142 square feet. It sold for a 14.1% capitalization rate/.50x GIM. This was the first D.C. Skilled Nursing Facility to sell in 10 years.

If you would like additional information, please contact Brad or Jeff.