Skilled Nursing Facility Sold In Poteet, TX
Matthew Alley sold a 62 bed skilled nursing facility located in Poteet, TX. The transaction closed at $850,000, which was $13,710/bed and 2.5x revenues. The facility was built in 1964 on a total of 3.31 acres of land. The property has maintained a census around 45% for the past couple of years. The Buyer is a private owner/operator looking to expand in Texas.
According to Matthew Alley, Managing Director, “This nursing home, while struggling with census, was a geographic fit for the buyer’s expansion plans in South Texas. It shows that there is a market for turnaround deals in 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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