$29.5 Million Assisted Living Facility Portfolio Sold – Houston and San Antonio Areas, Texas
Matthew Alley sold a $29,500,000 portfolio of Assisted Living Facilities with a focus on memory care located in the in Houston and San Antonio areas of Texas. Built from 2005 – 2014, each property in the portfolio consists of 16 units with a shared bathroom on each wing. The properties have maintained a census around 88% for the past couple of years. The seller is a private owner/operator looking to exit the seniors housing space. The buyer is a non-profit entity looking to expand their presence in Texas. The transaction closed at $29.5 million, which was $204,861/unit and 4.10x revenues.
According to Matthew Alley, who arranged the $29.5 million transaction, “The portfolio was very profitable and had upside from two properties that were in the fill-up stage. SLIB garnered four strong offers and moved forward with a group that financed the transaction through a bond issuance.”
For more information on the above transaction, or to inquire about the value of your Senior Living Communities, please contact Matthew Alley.
alley@slibinc.com | (630) 858-2501 ext. 225 | LinkedIn
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