Senior Living Investment Brokerage, Inc. facilitated the sale of a 54 Unit Independent Living Facility located in the city of Peru for $4.35 million, or approximately $80,555 per unit. The facility, located approximately 69 miles north of Indianapolis and 60 miles west of Ft Wayne, was originally developed by a local hospital in 2000 and is a one story facility comprised of 58,800 square feet and on approximately 39 acres.
The facility was 100% occupied at the time of closing and was sold to a regional owner operator that plans expand the facility to provide Skilled Nursing care in conjunction with the full Seniors Housing component and to also license the facility for Assisted Living. Ryan Saul and Jeff Binder of Senior Living Investment Brokerage, Inc. handled the transaction.
“The Blair Ridge transaction was a win-win for both Buyer and Seller. We secured a buyer with nursing home focus that saw value in developing skilled nursing on-site. The Seller was able to achieve a 30%+ return on the sale and divest a facility outside their geographic focus,” said Ryan Saul of Senior Living Investment Brokerage, Inc.