Pair Of Skilled Nursing Facilities Sold In Grand Saline & Athens, TX
This transaction involves two skilled nursing facilities in East Texas.
The facilities sold for $2,142,000 in July of 2018.
Anderson Nursing Center, located in Grand Saline, Texas, features 76 licensed beds. Built in three phases between 1960 and 1967, this 17,500 SF property sits on a 3.05 acre lot. Grand Saline is in Van Zandt County, approximately 70 miles east of downtown Dallas. The property maintained 65% occupancy prior to the marketing period.
Athens Healthcare and Rehabilitation Center, in Athens, Texas, features 82 licensed beds. Athens is in Henderson County, approximately 75 miles southeast of downtown Dallas and 36 miles west of Tyler. Built in 1965, this 19,355 SF facility sits on a 1.336 acre lot and maintained 52% occupancy prior to the marketing period.
The Seller is a family owner/operator that ran these facilities for decades. The Buyer is a self-advised real estate company that focuses on seniors housing.
This transaction allowed for the outgoing operator to exit the skilled nursing industry. This deal showed the benefits of Senior Living’s local focus as the purchaser is a mid-sized owner-operator located in Texas. There were some regulatory issues at the Athens facility, which the Buyer hopes to correct and build census.
Matthew Alley of Senior Living Investment Brokerage handled the transaction.
For more information on the above transaction, or to inquire about the value of your Senior Living Communities, please contact Matthew Alley.
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