Matthew Alley Sells Texas Portfolio

Matthew Alley sold six skilled nursing facilities in Texas for $68,500,000. The portfolio consisted of 894 skilled beds with 54 assisted living units and 17 independent living units at one of the locations ($76,620/bed/unit). The facilities were at 80% census. The facilities, built between 1986 and 2009, were the last six owned by a regional owner/operator. Matthew had been hired to sell six facilities for this group previously. Because of his success and the relationship, he was hired to sell the remaining properties in the portfolio. For additional information, please contact Matthew at 630/858-2501 or alley@seniorlivingbrokerage.com

Ryan Saul and Brad Clousing Close on Florida Portfolio

Brad Clousing and Ryan Saul sold a portfolio of four assisted living facilities in the Florida panhandle. Each facility is 39 units and were constructed in 1999. There is available land with each site and the buildings were each designed for expansion of 12 to 14 additional units. The properties were well maintained and offered both assisted living and memory care. The facilities sold for $109,000/unit at a 10.1% capitalization rate. For additional information, please contact Ryan or Brad at 630/858-2501.

Pappas, Clousing and Binder Sell Iowa CCRC

Senior Living Investment Brokerage, Inc. has sold an Iowa CCRC for $11,250,000. The facility consisted of 10 Independent Living units, 41 Assisted Living units, 34 Memory Care units and 54 Skilled Nursing beds. The Seller is one of the larger owner/operators in the country and had purchased this asset as a multi-facility/multi-state transaction. They do not have a strong presence in Iowa. The Buyer is out of California but was originally from Iowa. Originally built in 1968 and renovated/expanded in 1998. Financing was provided by a regional lender. For additional information please contact Jeff Binder, Brad Clousing or George Pappas.

2011 expected to be a banner year

While attending the ASHA conference in Phoenix, Arizona, the outlook for 2011 was encouraging.

A few key factors to consider.

1) REITs have been leading the charge with new capital pouring into the market.
2) 2011 will be a defining year for debt. The local, regional and national lenders will deploy capital into the market like REITs did in 4Q and plan to do throughout 2011.
3) Seniors Housing and long-term care loans have out performed every other sector.
4) There is greater demand than supply of properties available to purchase. If you have thought about selling, now would be an ideal time.

Interest rates remain at historic lows and there is very little supply in the market. Take advantage of increasing values and high demand for your facility. Please contact me at saul@seniorlivingbrokerage.com for a confidential proposal to determine market value.

Senior Living Sells Ohio Assisted Living/Alzheimer's Care Facility

Jeff Binder, Ryan Saul and Brad Clousing have sold a 102 unit Assisted Living and Alzheimer's Care Facility in Ohio for $17,500,000. Constructed in 1998, the facility is 69,184 square feet on 4.5 acres. The Seller is a national owner/operator and the Buyer is a Florida based real estate investment company who intends on keeping the current management in place. The facility sold for a 8.5% cap rate and a 2.9 GIM.

Brad Clousing Handles Georgia Skilled Nursing Sale

Brad Clousing has sold a 144 bed skilled nursing facility in an Atlanta suburb. The seller was a local owner/operator and the buyer is a large regional operator. The facility sold for over $83,000/bed at an 11.6% capitalization rate. The 45,347 foot facility was built in 1992 with an addition in 1998. For additional information please contact Brad at clousing@seniorlivingbrokerage.com or at 630/858-2501.

2010 Record Year for Senior Living Investment Brokerage

Senior Living had 7 transactions totaling 15 facilities in December ($140,000,000 in sales) to cap a record year. Sales for 2010 exceeded $300,000,000. We look forward to another successful year in 2011 and continued support of the senior housing industry.