SLIB: Senior Living Investment Brokerage

CLOSED: #TeamSLIB facilitated the sale of English Meadows, an assisted living and memory care community in Williamsburg, Virginia. According to Toby Siefert, Managing Director, “SLIB was able to identify a non-seniors housing investor with plans for an alternative use to acquire this community.” The Seller was a private company based in Virginia that develops, owns, and manages seniors housing communities primarily in the Mid-Atlantic and Southeastern United States. SLIB was able to leverage its regional and national marketing platform to create a confidential market for this offering. The transaction was handled by Toby Siefert and Dave Balow of SLIB: Senior Living Investment Brokerage.

CLOSED: #TeamSLIB facilitated the sale of an independent living, personal care, and skill nursing/continuing care retirement portfolio in northwestern Pennsylvania. The portfolio was comprised of five properties, 156 IL/PC units, and 159 SNF beds. According to Ryan M Saul and Toby Siefert, "A sale to an affiliate of the existing operator, along with the existing lender providing new financing to the Buyer, allowed for a seamless transaction. The proximity of the independent living community to the two skilled nursing communities allows the owner to continue operating with the CCRC license." The portfolio was in receivership and SLIB worked on behalf of the Receiver. The Buyer is an affiliate of the existing operator. SLIB was able to leverage their regional and national marketing platform to create a confidential market for this offering. Ryan M Saul and Toby Siefert of SLIB: Senior Living Investment Brokerage handled the transaction.

CLOSED: #TeamSLIB facilitated the sale of a 219-unit independent living community in Rochester, New York. Built in 2006, the property sits on ±30.83 acres. According to Dave Balow, Executive Vice President, "Having sourced several qualified bids for this asset, a nationally recognized IL/55+ investor was ultimately selected. The Buyer was able to transact on an aggressive timeline, which was important to the Seller." The Seller is a public, non-listed REIT focused on seniors housing properties throughout the United States. The Buyer is a national investor focused on acquiring stabilized IL/55+ assets throughout the country. SLIB was able to leverage their regional and national marketing platform to create a confidential and national marketing platform to create a confidential market for this offering. Jason Punzel, Dave Balow, and Brad Goodsell of SLIB: Senior Living Investment Brokerage handled the transaction.

CLOSED: #TeamSLIB facilitated the sale of Anthology of Olathe, a 156-unit independent living, assisted living, and memory care community in Olathe, Kansas. Built in 1978, the facility was extensively remodeled in 2016 and underwent a 60-unit independent living expansion project in 2020. According to Jeff Binder Senior Managing Director, "SLIB was able to confidentially procure multiple offers for this community providing the Seller with several options to consider. The selected Buyer intends to continue to invest in the community to keep the community well-positioned to serve the growing needs of the Olathe, Kansas market." The Seller is a national owner/operator and the Buyer is an East Coast-based private equity group partnering with a New York-based operator. This is their first acquisition in Kansas. Jason Punzel, Jeff Binder, Daniel Geraghty, and Dave Balow of SLIB: Senior Living Investment Brokerage handled the transaction.

CLOSED: #TeamSLIB facilitated the sale of a seniors housing portfolio including three assisted living and memory care communities in Northeastern Ohio. The portfolio features 220 assisted living and memory care units (135 Al and 85 MC) in Madison, Chagrin Falls, and Ashtabula, Ohio. According to Ryan M Saul, Senior Managing Director, "While not typical when a community is in receivership, Mike Flanagan, Receiver, was able to improve both occupancy and financial performance during a liquidation sales process by hiring Everest Management Solutions. The Buyer will continue to build on the positive momentum Everest started and get in at an attractive basis from a price per unit perspective." The Seller was Mike Flanagan, Receiver. The Buyer was an East Coast owner/operator looking to grow their seniors housing portfolio in Ohio. Ryan M Saul of SLIB: Senior Living Investment Brokerage handled the transaction.

CLOSED: #TeamSLIB facilitated the sale of a package featuring RCAC and CBRF properties in Fond du Lac and De Pere, Wisconsin. Sage Meadow of Fond du Lac (40 units) is located in Fond du Lac, WI approximately 55 miles from the Green Bay MSA and the Milwaukee MSA. Sage Meadow of De Pere (40 units) is located in De Pere, WI approximately 5 miles south of Green Bay. According to Ryan M Saul and Patrick Burke “This transaction was a win-win for both Buyer and Seller. The Seller was looking to exit these communities as they reached their investment horizon while the Buyer was able to grow their portfolio in Wisconsin with a cash flowing, attractive price per unit relative to what it would cost to build.” The Seller was a private equity group with holdings across the Midwest. The Buyer was a group based in Tennessee with other holdings in Wisconsin looking to grow their portfolio. Ryan M Saul and Patrick Burke of SLIB: Senior Living Investment Brokerage handled the transaction.

CLOSED: #TeamSLIB facilitated the sale of Luther Manor - Hillcrest Campus, a 118-unit independent and skilled nursing community in Dubuque, Iowa. The Hillcrest Campus is the third (and final) asset previously owned and operated by Dubuque-based Luther Manor Home before falling into receivership. According to Jeff Binder, Senior Managing Director, "I am pleased with the SLIB team's ability to negotiate the nuances of these three separate transactions that ultimately provided a successful outcome not only for the lenders involved but also the residents of the communities." SLIB was engaged by the Receiver to sell this campus in conjunction with the two Asbury, Iowa campuses. The Buyer ultimately selected is a regional owner/operator based in Florida with an existing presence in Iowa. This acquisition was strategic in growing their portfolio, especially in eastern Iowa. Jeff Binder, Jason Punzel, Nick Cacciabando, and Jake Anderson of SLIB: Senior Living Investment Brokerage handled this transaction. Visit our website to read about this deal and the rest of our transactions: https://ow.ly/yb4n50U6uRK

CLOSED: #TeamSLIB facilitated the sale of a 46-unit memory care community in Taylorville, Illinois. The facility is situated on a 4.2-acre site in a prime central Illinois location near Springfield, the capital of Illinois. According to Vincent Viverito, "This was a nearly stabilized, quality memory care asset that will be an excellent addition to the Buyer's portfolio." The private equity Seller divested this asset to redeploy capital into other projects, while the Buyer acquired it to expand their portfolio in Illinois. Vincent Viverito, Ryan M Saul, and Jeff Binder of SLIB: Senior Living Investment Brokerage handled the transaction. Read more about this transaction on our website here: https://ow.ly/seow50U6uQm

CLOSED: #TeamSLIB facilitated the sale of a Certificate of Need (CON) for 100 Adult Care Beds within Wake County, North Carolina, and 120 Adult Care Home Beds within Mecklenburg County, North Carolina. These beds were affiliated seniors housing assets that were voluntarily closed. According to Patrick Burke, Executive Vice President, "Wake & Mecklenburg Counties within North Carolina are very desirable markets for new construction. The bidding for these CON's was extremely competitive as North Carolina is a CON state for assisted living and memory care. SLIB was able to receive multiple offers from regional and national developers." The Seller is an International Holding Company that was looking to sell the CON and deploy the capital into other businesses. The Buyer is a national developer/operator looking to expand their footprint within North Carolina. Patrick Burke, Jason Punzel, and Vincent Viverito of SLIB: Senior Living Investment Brokerage handled the transaction.

CLOSED: #TeamSLIB facilitated the sale of Grand Meadows, an 80-unit assisted living, memory care, and skilled nursing facility community in Asbury, Iowa. SLIB was engaged by the receiver to sell this community as well as the adjacent entry fee townhome community, that was once operated by the Dubuque-based Luther Manor Home. The Buyer is a regional owner/operator looking to expand their existing portfolio in Iowa and is an affiliate of the management company appointed by the receiver to operate the community. According to Jeff Binder, Senior Managing Director, "SLIB was able to generate multiple offers for this high-quality asset which was ultimately sold to the receiver-appointed manager who did a nice job improving operations in a relatively short time." Jeff Binder, Jason Punzel, and Jake Anderson of SLIB: Senior Living Investment Brokerage handled the transaction.