Skilled Nursing Facility Sold
161 SNF Beds
Closed: July 1st, 2020
In the second of three sales that closed July 1st, SLIB arranged the $8,000,000 sale of a Skilled Nursing Facility located in Hurst, Texas. Featuring 161 total skilled nursing beds, Bishop Davies Nursing Care Center encompasses +/- 70,000 SF on a +/- 5.2 acre lot. The 1975-built community underwent expansions in 1994 /1996 and was 74% occupied at commencement of marketing / prior to COVID-19. The facility was also privately enrolled in QIPP.
“This transaction allowed for the local operator to exit the nursing home industry. The deal faced several delays due to concerns with COVID-19, but the buyer closed at the original offer price.”-Matthew Alley, Managing Director
Bishop Davies Nursing Care Center is located in the city of Hurst in Tarrant County, Texas. It is approximately 14 miles northeast of downtown Fort Worth and 25 miles west of downtown Dallas in the northeast region of the state. Major roadways providing access to the general area include I-820, I-35W and I-30, while TX-26 (Grapevine Highway) provides more immediate access to the community.
The Seller is an owner-operator who is exiting the industry, and the Buyer is a regional owner-operator based in Louisiana. The Buyer looks forward to investing in the community to build census and add further value to the community.
Matthew Alley of Senior Living Investment Brokerage arranged the transaction, which closed July 1st.
Our team is still actively closing transactions in the midst of COVID-19. We continue to stay updated on changing circumstances and legislation within the senior housing industry. Let us know how we can support you. Our firm is active and will continue working on your behalf through good times and challenges.
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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