SOLD – 118 bed Skilled Nursing Community
— The community was 83% occupied at the time of sale with a 80% Medicaid payor mix.
— Community initially struggled with lease up but was on pace to stabilize quickly at the time of closing.
— The average revenue per occupied unit per month of $3,700 was well below competitors creating additional upside in the transaction.
— Our team put together an in depth offering memorandum featuring in depth location and community details, thorough analysis of current operations, and detailed sales comparables.
— Took offering to targeted institutional buyer looking to expand presence in Florida.
— Orchestrated and oversaw due diligence process to ensure a smooth transaction on both sides.
— The transaction occurred between a large institutional buyer and mom and pop seller who have asked not to be identified.
— Portfolio sold for $206,500 per unit, an impressive metric for a community that had not yet reached stabilization
