Senior Living Investment Brokerage, Inc. recently announced that it facilitated the sale of a Skilled Nursing Facility located in Snellville, Georgia. The facility, located 18 miles outside of Atlanta, consists of 144 beds and was constructed in 1992. The buyer purchased the 44,478 square foot facility and its 8.07 acres for $12.0 million, or approximately $83,333 per bed. At the time of the sale, occupancy was 92%.
“The demand for quality skilled nursing facilities has been tremendous. The area possesses many traits of a highly–desirable asset; strong demographics, modern physical plant, and good reputation in the local market. This translated into strong market interest and pricing for the Seller,” stated Bradley Clousing of Senior Living Investment Brokerage, Inc.