Senior Living Investment Brokerage, Inc. recently announced the completion of the sale of a long-term care facility located in the eastern portion of Dallas, Texas. The facility, originally developed in 1960 and recently renovated, consists of approximately 206,000 square feet and sits on 22 acres. The facility has 264 skilled nursing beds and 39 independent living units which are not licensed for healthcare and had an 87% occupancy rate at the time of sale.
The seller, a regional owner / operator, sold the facility as a strategic divestment. The buyer, Ensign Group, is a publically traded senior housing company that owns multiple properties in Texas and will utilize their management team and economies of scale to improve the operations of the facility. Jeff Binder, Matthew Alley, and Ryan Saul of Senior Living Investment Brokerage, Inc. handled the transaction.
“This transaction is a great example of how our team approach at Senior Living produces maximum national exposure without jeopardizing confidentiality,” states Jeff Binder.