Jeff Binder Presents at the HUD Kaizen in Washington, DC

Jeff Binder was one of three industry participants invited by the Department of Housing & Urban Development, Office of Healthcare Programs to spend two days in Washington participating in their Kaizen. Binder spent much of the first afternoon presenting an overview of the current M&A market for seniors housing & long-term care properties. He pointed to Senior Living Investment Brokerage, Inc.'s participation in well over 100 transactions over the past three years as the foundation for the depth of the analysis and wide-ranging market statistics he was able to profile. Over the remaining time Jeff was in Washington, he participated in a round table discussion with the Office of Healthcare Programs employees to discuss HUD policy related to their various senior housing and long-term care programs.

Pat Byrne Leases a Missouri Skilled Nursing Facility

Patrick Byrne has leased a 76 Bed Skilled Nursing Facility in north Saint Louis County.  As part of the lease agreement, a purchase option was executed as well.  The facility has always stood out as one of the area's best providers and boasts a quality physical plant to complement it's great reputation.  Located in a middle class municipality, the facility has historical census ove 90% with an emphasis on Alzheimer care.  The Lessee is based in St. Louis but lacked a presence in this market.  This offered a strategic acquisition near their home office.  For additional information, please contact Pat Byrne at 314/961-0070 or byrne@slibinc.com 

22nd Annual NIC Conference

Senior Living Investment Brokerage, Inc. will once again be sponsoring the National Investment Center Conference September 26th-28th.  Ryan Saul, Managing Director will be speaking 3:30-5:00 on Thursday:  Not All Valuations Are Created Equal: Pricing Variables Today—and Tomorrow.
Call or email one of our brokers to schedule an appointment to meet while at the conference or stop by our table at the Meet the Investors Reception.

Ryan Saul Sells Another Indiana Skilled Nursing Facility

Ryan Saul sold a 180 bed skilled nursing facility in Northwest Indiana.  The facility was built in 1972 and was in excellent condition.  The census at the time of sale was 80% with a 38% quality mix.  Senior Living Investment Brokerage, Inc. conducted a confidential sales process while fieldng multiple offers that resulted in a record price per bed for a skilled nursing facility in the State of Indiana.  Ryan, working with the Seller, negotiated a sale price of $12,850,000 ($71,389/bed) for an 11.7% cap rate.  The Seller is a regional owner/operator that has utilized Ryan's services in the past.  This particular facility does not fir their prototype of skilled beds combined with assisted living.  Ryan was able to identify a Buyer from outside of Indiana.  The Buyer currently owns 12 facilities and were actively looking to diversify their portfolio.  They plan on focusing on certain cost centers and raising census.  for additional information, please contact Ryan Saul at ryansaul@slibinc.com or at 630/858-2501.

Market Gaining Strength

The evidence is there.  The market continues to be torrid.  There is very little supply available, interest rates are at historic lows and buyers are aggressively looking for assisted living and long-term care facilities to buy.

Please join me at this year's NIC Conference September 19-21 in Chicago to network and hear about the current state of the market.  I will be guest speaking and presenting a case study at a breakout session on Thursday where you can hear the variables that impact you as a buyer or a seller.  Learn how we value properties and the variables that come into play in the current market.

Please contact Ryan Saul to discuss the current market and the value of your property.

Matt Alley Sells 52 Medicaid Beds in Texas

Matt Alley recently represented a local non-profit group in the sale of 52 Medicaid beds in Williamson County, Texas.  The buyer is a developer located in Texas.  The buyer will also have the opportunity to benefit from an increase of 13 additional Medicaid beds upon development of a new facility per the State of Texas allowing a 25% increase in the number of beds for new development projects.  For additional information, please contact Matt Alley at alley@slibinc.com or 630/858-2501.

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.