December 4, 2019
GLEN ELLYN, IL–SLIB, a leader in the seniors housing market, facilitated the sale of two skilled nursing communities located in Tennessee.
Mt. Pleasant Health & Rehab Center (72 skilled beds) / Pleasantwood Apartments (30 independent living units) is located in Mount Pleasant, TN, 60 miles southwest of Nashville.
Trinity Health & Rehabilitation Center (104 skilled beds), with a vacant assisted living area (16 units), is in Lenoir City, TN.
According to Ryan Saul, Managing Director, “This was a win-win transaction where the seller divested two non-core assets, and the buyer enhanced their existing portfolio.”
The Seller is a regional real estate owner that focuses more on CCRCs. These two facilities were acquired as part of a portfolio, and the owner made the decision to divest these specific assets to focus on their core business.
The Buyer is a regional owner / operator with other communities in Tennessee. SLIB procured multiple offers and was able to achieve a top-of-market price. The transaction closed in just 68 days from execution of Letter of Intent.
SLIB was able to leverage their nationwide marketing platform to create a national, yet confidential market for this offering. Dan Geraghty, Ryan Saul and Brad Clousing handled the transaction.