Skilled Nursing Facility Sold In East Texas
Closed: February 1st, 2019
SLIB arranged the sale of a Skilled Nursing Facility located in Pittsburg, Texas. Pittsburg Nursing Center provides 104 licensed beds and 92 operational beds, all of which are dually certified. Built in 1969, the community struggled with occupancy in 2018, averaging less than 60% based on operating beds. The community was put on the Special Focus List in September 2016, and graduated from that list in April 2018. Pittsburg Nursing Center encompasses 25,912 SF situated on a +/- 2.62 acre lot.
According to Matt Alley, “This transaction allowed for the outgoing operator to exit this market. This deal showed the benefits of SLIB’s local focus as the purchaser is a mid-sized owner-operator located in Texas. There were some regulatory issues at the facility, which the Buyer hopes to correct and build census.”
The community is located in Pittsburg, which is in Camp County of East Texas. Pittsburg Nursing Center is approximately 55 miles north of Tyler and 120 miles east of Dallas, easily accessible from US Highway 271 and Interstate 30.
The Seller is a local partnership looking to redeploy assets. The Buyer is an independent owner/operator located in the Dallas/Fort Worth area.
Matthew Alley of Senior Living Investment Brokerage handled the transaction, which closed February 1st, 2019.
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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