Just Sold: Illinois Skilled Nursing Portfolio

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Ryan Saul and Jeff Binder of Senior Living Investment Brokerage, Inc., Sell Six Property Skilled Nursing Portfolio in Illinois.

This transaction was a win-win for buyer and seller. The buyer was able to double the size of their portfolio and the seller locked in 2012 capital gains.
- Ryan Saul

On December 31, 2012, Ryan Saul and Jeff Binder of Senior Living Investment Brokerage Inc., a leader in the seniors housing real estate market, represented the Illinois‐based owner/operator in the purchase of a six facility Skilled Nursing portfolio. The Purchaser was six separate LLC entities and ManagCare will operate the facilities. They acquired the portfolio to expand its existing presence in the state. The Illinois SNF Portfolio consisted of 824 beds built between 1963 and 1996. They are located in Marseilles, Morton, Peoria Heights, Princeton, and Springfield. Though a confidential sales process, Senior Living Investment Brokerage, Inc. was able to procure multiple offers to secure the best terms to ensure a year end closing. The Midwest owner/operator strategically divested the six facilities to take advantage 2012 capital gains and focus on other lines of businesses owned.

ManagCare plans to focus on improving occupancy and increasing Medicare census. Overall, the portfolio was operating at 74% occupancy in 2012, with a 14% private‐pay mix and 15% Medicare mix. ManagCare will realize strong efficiencies by building off of their existing portfolio in Illinois. PrivateBank, based in Chicago, IL provided financing.

For more information about this transaction or other Senior Living Investment Brokerage, Inc. sales, contact:

Ryan Saul, Managing Director

P: (630) 858-2501 x222

E: ryansaul(at)slibinc(dot)com

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Ryan Saul, Managing Director
Senior Living Investment Brokerage
630-858-2501 222
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Patty Turk, Associate
Senior Living Investment Brokerage
630-858-2501 227
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