Assisted Living Facility Sold
$3.35M or $83,750 Per Unit
Closed: November 6th, 2019
SLIB, a leader in the seniors housing transaction market, facilitated the $3.35M value-add sale of an Assisted Living community located in a smaller submarket of East Texas. This 2004-built community shows well and offers 40 units / 56 licensed Type A beds. The Lexington Center encompasses approximately +/- 35,686 SF on a +/- 6.68 acre lot, allowing room onsite for future development. The community was 83% occupied at commencement of marketing.
“This transaction allowed for the local operator to exit the seniors housing industry. This deal showed the benefits of SLIB’s local focus as the purchaser is a small operator looking to expand in the seniors housing space.”-Matthew Alley, Managing Director
The Lexington Center is located in the East Texas submarket of Huntsville in Walker County, which is just north of the Sam Houston National Forest and approximately 70 miles north of downtown Houston. The community is easily accessible via Interstate 45.
The Seller is a local family owner/operator exiting the seniors housing industry. The Buyer is an independent owner/operator based out of nearby Houston. The Buyer looks forward to leveraging existing community strengths, building census and reducing operating expenses to add further value to the community.
Matthew Alley of Senior Living Investment Brokerage secured a buyer for this transaction, which was his 113th senior housing community sold in the state of Texas.
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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