Skilled Nursing Facility Sold In Port Arthur, TX
Matthew Alley sold a 165-bed Skilled Nursing Facility in Port Arthur. The transaction closed at $7.54 million, which was $45,700/bed and 13.3% cap rate. The property consists of 199 licensed beds/165 usable beds. The facility was built in 1963 with an addition in 1973 and most recently remodeled/upgraded in 2011. The facility enjoys a strong census (84%) but is reliant upon Medicaid residents (80%). The single story building consists of 47,250 square feet and is located approximately 90 miles east of Houston. The property sold for a 13.3% capitalization rate/1.03 EGIM.
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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