A family business in western Iowa was ready to make a change in their lifestyle and decided to sell their assisted living facilities. The four facilities were located in three communities in northwestern Iowa with the first built in 2005 and the newest built in 2016. The portfolio had a total capacity of 162 residents with 123 resident units.
Senior Care Realty’s Mark Van Den Broeke made contact with the sellers while they were considering their options for the future. The sellers were concerned that announcing a potential sale could disrupt their operations or cause concern among residents and staff. Mark reassured the sellers that Senior Care Realty had walked through the same scenario with hundreds of clients over nearly 20 years. He explained the confidential marketing process that helps sellers achieve results while keeping the sale quiet. They decided to move ahead.
Mark identified several prospective buyers from within Senior Care Realty’s network, creating a competitive process that helped the seller maximize price. Within weeks, after multiple buyers had stepped forward with serious interest in the facilities, a letter of intent was approved by the seller.
After a normal due diligence period, the transaction was ready to close. In every transaction, there are surprises that pop up and need solutions. This transaction was like every other with a few minor concerns that Mark helped the buyer’s and seller’s attorneys address and keep closing on track.
In the end, the seller made a successful exit from their family business and turned it over to a high quality assisted living operator. Re-investing proceeds from the sale into other investment property allowed the seller to generate retirement income and pursue the next stage of life with fewer day to day challenges and more peace of mind.