Senior Living Investment Brokerage (SLIB) announces the sale of two assisted living facilities in Florida and Alabama. The Florida transaction was for $12.4 MM with 184 units that was constructed in 1999 and had an 89% occupancy level at the time of the sale. The seller, a national skilled nursing operator, decided that the sale was a strategic disposition as it was its only stand alone assisted living facility in Florida.
The second transaction announced by SLIB was the sale of a $4.5 million facility that has 50 assisted living units and 20 skilled nursing units in a separate wing. The skilled nursing wing is licensed for 20 beds (all private rooms) and is only certified for Medicare. Constructed in 1994, the facility also had the assisted living portion of the facility has remained consistent at approximately 65% occupancy, which is significantly below market. The unit mix is 32 studios, 8 suites and 10 one-bedroom units in the assisted living portion.
Bradley Clousing and Ryan Saul of SLIB handled both transactions.