Sometimes an operator can stretch a bit too far geographically, or otherwise, and end up with a property that just doesn’t fit anymore. That was the case with this assisted living facility in northern Minnesota that was hours away from the previous owner’s other facilities.
Senior Care Realty’s Bob Richards had been working with the owner on the sale of a larger portfolio (which is available – contact Bob for details) and it became clear that this single property needed to be spun off to make the rest of the portfolio a more attractive opportunity for some buyers. Bob went to work to find a buyer interested in a single-asset that offered some upside for a buyer that operated locally or could connect with the right local operator. He found the right match.
The property was spun off successfully to a Minnesota senior living investor with the right management team to take on the project. The seller was able to consolidate their efforts on their core properties and position their portfolio for an even better outcome when they exit their assisted living business soon.
For more information, connect with Bob Richards at Senior Care Realty at 608-825-4200, ext. 1006 or by email at firstname.lastname@example.org.