Senior Living Investment Brokerage announced that it is seeing strong interest in senior living sales during the first quarter of 2010. The company sold three facilities, one in Illinois and two in Florida, totaling over $14.3 million dollars. SLIB sold a 44 unit Assisted Living Facility located in Ormond Beach, Florida, for $2.2 million, or approximately $50,000 per unit. Constructed in 1996, the four-story building is comprised of 32,440 square feet and sits on 1.2 acres and was at an occupancy level of approximately 60% at the time of the sale. In another Florida transaction, SLIB sold a 78 unit Assisted Living Facility located in Hollywood, Florida which is home to approximately 144,000 residents and adjacent to Ft. Lauderdale. The four-story, 62,000 square feet and sits on 2.9 acres was construction in 1999 was sold for $7.85 million, or approximately $100,641 per unit. Bradley Clousing of Senior Living Investment Brokerage, Inc. worked on both transactions.
Additionally, SLIB facilitated the sale of a 99-bed Skilled Nursing Facility located in rural Illinois, just west of Peoria for $4.3 million, or approximately $43,434 per bed. Constructed in 1971, the one story building is comprised of 29,817 square feet and sits on 2.3 acres. At the time of the sale, occupancy was approximately 66% and one of attractive attributes of the asset was that it was financed by assumable HUD debt. Jeff Binder and Patrick Byrne of Senior Living Investment Brokerage, Inc. handled the transaction.