$30.5 Million Seniors Housing Portfolio Sold In Richardson, Waco & Austin, TX
Matthew Alley sold a 473 bed seniors housing portfolio including skilled nursing, independent living and assisted living units located in Richardson, Waco and Austin, Texas. The facilities were built in 1986 & 1988 and are on a total of 21.4 total acres. The properties have maintained a census around 98%, 65% and 85% for the past couple of years. The buyer is an independent owner-operator based out of Louisiana. The transaction closed at $30.5 million, which was $64,482/bed and 1.45x revenues.
According to Matthew Alley, Managing Director, “The seller believed that this market was the right time to enact its exit strategy. SLIB was able to garner several offers with four buyers advancing to a final round of bidding.”
For more information on the above transaction, or to inquire about the value of your Senior Living Communities, please contact Matthew Alley.
Nationwide Presence – Texas Focus