Senior Living Investment Brokerage, Inc. Announces Midwest Senior Housing Portfolio Sale

clip_image002 Senior Living Investment Brokerage, Inc. (SLIB) recently announced the sale of a Midwest senior housing portfolio sale of five facilities in Illinois, Kentucky and Indiana.  The facilities were sold by the Franciscan Sisters of Chicago Service Corporation, to Trilogy Health Services. The properties included 513 Skilled Nursing Beds and 238 Assisted Living Beds/Units for a total of 751 Beds/Units.  In addition to the five operating assets in Indiana, Illinois and Kentucky, Franciscan also required that Trilogy purchase a closed 33 room nursing home in Otterbein, Indiana.  SLIB was engaged by the Franciscan Sisters and SLIB was able to provide the organization over a dozen offers for the facilities, several of which contained no financing contingencies.  Trilogy feels that the addition of the facilities will prove to be beneficial through the anticipated through economies of scale and expense reduction the portfolio should produce $6.2M in net operating income within the first year.  Private Bank provided the first mortgage for the acquisition.

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