$13.6 Million Skilled Nursing Facility Sold In Reno, Nevada
Closed: February 1st, 2019
SLIB arranged the $13.6M sale of a Skilled Nursing Facility located in Reno, Nevada. Regent Care Center of Reno, built in 2000, shows nicely and has been well maintained. The community includes 174 beds in 91 units, with 8 private suites and 83 semi-private rooms. The 63,046 SF facility sits on a +/- 4.15 acre campus, with room for additional development on-site. Even with an average census of 60-65%, the community still earns an EBITDAR of $1.5M+ based on the trailing 4 months performance annualized.
Regent Care Center of Reno sold for $13,600,000 or $78,161 per bed.
The community is located just 5 miles south of the city center and 30 miles north of Lake Tahoe in Washoe County, Nevada.
According to Matt Alley, “This transaction allowed for the non-profit owner-operator to exit the Nevada market, which is well outside of their normal scope of operations. This deal showed the benefits of SLIB’s national presence as the buyer is located in Southern California and is looking to expand its presence in Nevada.”
The Seller, based out of Texas, looks to consolidate operations as this was their only facility outside of the state. The Buyer is a regional owner/operator out of Southern California. They currently own facilities throughout the Southwest and Mid-Atlantic, including one already in Nevada, and are looking to expand operations.
Matthew Alley and Jason Punzel 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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