This transaction was attractive based on the quality physical plant and high Medicare/Private Pay census. A record PPB in Indiana was achieved for the Seller and the Purchaser was able to diversify their portfolio by acquiring in a new state. – Ryan Saul
Glen Ellyn (PRWEB) August 10, 2012
On August 1, 2012, Ryan Saul of Senior Living Investment Brokerage Inc., a leader in the seniors housing real estate market, represented Trilogy Health Systems in the record sale of The Arbors at Michigan City. The Purchaser, a joint venture between YAM Management and a private REIT, acquired the facility to diversify into Indiana and capitalize on the high Medicare census and cash flow. The Arbors at Michigan City is a 180-bed, skilled nursing facility located in Michigan City, Indiana. Though a confidential sales process, Senior Living Investment Brokerage, Inc. was able to procure multiple offers and the final sale price of $12,850,000 resulted in a record price per bed ($71,389) for a skilled nursing facility. The Arbors at Michigan City is a well maintained facility with 38% quality mix and 80% overall occupancy. Trilogy Health Systems strategically divested The Arbors at Michigan City because it didn’t fit their prototype of skilled nursing combined with assisted living. Additionally, the sale freed up debt and equity to deploy to other projects that are more closely aligned with the company’s model and vision.
The Purchaser, YAM Management, will add The Arbors at Michigan City to their existing Illinois portfolio of 16 facilities. They have a successful operating platform that provides a high level of care while focusing on occupancy and Medicare census. YAM Management partnered with a private REIT, experienced in long-term care, to finance the transaction.
The sale of The Arbors at Michigan City marks the fifty-second (52nd) facility in Indiana that Ryan Saul has sold.
For more information about this transaction or other Senior Living Investment Brokerage, Inc. sales, contact:
Ryan Saul, Managing Director
P: (630) 858-2501 x222