Bavarian & Shields Comfort Care
The listing for this 51 unit AL/MC community, quickly became the sale of two campuses, when a national REIT discovered the owner’s nearby 53 unit property and wanted both. The newly constructed communities were built in 2013 and 3015 and had occupancy around 90%. The owner will continue to operate both properties through a lease back agreement with the REIT and has given them a purchase option on two additional facilities.
Sanctuary at Holy Cross
This 62,000 sq ft skilled nursing facility in Maryland was constructed in 1997 and located on 13 acres in the 12th wealthiest county in the United States. Management challenges by the not-for-profit owner led to annual losses of nearly $500,000 in recent years. The Knapp Group team was able to clearly demonstrate the facility’s potential for select buyers, leading to 5 offers that pushed the selling price $1.75 million above list. The final selling price was just short of $119,000 per bed.
This 55 unit AL/MC community was located on 10 acres in rural northeast Ohio. The owners of the family built and operated facility were ready to exit the industry, and had been trying to sell the property on their own. Although, their business had strong cash flows, dedicated staff, and occupancy rates around 85%, closing the deal was always just out of reach. Once involved, Knapp Group advisors were able to successfully secure a local buyer to take over the ownership and operations. Read more.
This 60 unit, 72 bed assisted living communy was owned by a national construction company and a regional healthcare system. We evaluated the market value of the property over a 5 year period in order to advise our client on the best timing and market conditions to realize the value they needed. Within 45 days of listing, 35 offering memorandums were sent out and 5 offers were secured.
This beautiful 60 bed, 3 building, assisted living, transitional care, and memory care campus garnered significant interest in this small bedroom community. The seller was a local developer and was looking to successfully exit this community and continue developing two other communities. The purchaser was a nursing home owner/operator who was looking to get into the assisted living service sector.
Henry Ford Continuing Care
The sale comprised two buildings and 320 skilled nursing beds. The offer process entailed two rounds and comprised nine qualified offers. Ultimately four candidates were interviewed by the sellers executive committee. The offering was awarded to a local owner/operator of numerous skilled nursing campuses.
This sale marked the successful exit of Presbyterian Villages of Michigan from the skilled nursing and assisted living component of their flagship 33 acre Continuum of Care Retirement Community (CCRC) campus. The sensitive nature of this unprecedented sale for PVM was brought to conclusion with a selective marketing effort which culminated in the interview of four candidates and the choice of the operator whose mission blended well with the overall mission of the seller.
Village Rehab & Care Center
This CCRC campus was comprised of a newly remodeled and expanded 67 bed skilled nursing home, a newly constructed 40 bed assisted living/memory care building, and a brand new 16 unit independent living building. The owner of the business had been in this industry for 30+ years and was looking to retire. His partner in the operation was ideally looking to stay involved in the operational side of the business, and we were able to secure a buyer that successfully accommodated the seller’s overall objectives.
This beautiful and historic healthcare facility was constructed as a church in 1926 and later converted to a seniors housing community featuring 124 skilled nursing beds and an attached assisted living/independent living tower. The owner was a faith-based, non-profit organization that decided to sell the property due to its outlying location and challenging urban market. The identification of a local for-profit operator that could successfully navigate this healthcare business to profitability was successfully consummated.
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