Skilled Nursing Facility Sold
115 SNF Beds
Closed: July 1st, 2020
In the first of three sales that closed July 1st, 2020, SLIB arranged the $7,400,000 sale of a Skilled Nursing Facilty located in Mineola, Texas. Featuring 115 total skilled nursing beds, Wood Memorial Nursing Home has shown extraordinary financial growth, moving from an EBITDAR of just $100,000 in 2017 (when Matt previously sold the building) to an EBITDAR of $1,050,000 by 2019. The 1964-built community was 77% occupied at commencement of marketing / prior to COVID-19, with room for a new owner/operator to further grow revenues.
“SLIB was able to obtain a repeat engagement on this facility as we were able to sell it for the buyer three years after the initial transaction closed. After improving operations and entering the facility into QIPP, the seller was able to generate a solid return on investment.”-Matthew Alley, Managing Director
Wood Memorial Nursing Home is located in the city of Mineola, seat of Wood County, Texas. It is approximately 25 miles north of downtown Tyler and 80 miles east of downtown Dallas. US Highways 69 and 80 provide access to the city, and Interstate 20 is approximately 15 miles south of the city.
The Seller is an owner-operator based in central Texas, and the Buyer is a regional owner-operator based in Texas. The Buyer looks forward to leveraging the current success to further build census and boost operations at this community.
Matthew Alley of Senior Living Investment Brokerage, who previously sold this community in 2017, secured a buyer for the transaction.
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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