TUESDAY, OCTOBER 20, 2009

Brokerage handles sale of seniors facility in Kansas

by Midwest Real Estate News Reports
Kansas

Senior Living Investment Brokerage, Inc. recently facilitated the sale of a Continuing Care Retirement Community in Lawrence, Kan.

Lawrence is one of the largest markets in the state of Kansas, and in 2007 was named one of the top-10 places to retire in the United States by U.S. News & World Report.

Consisting of 140 skilled nursing beds, 37 assisted living units and 82 independent living units, the facility was originally developed in 1988, with extensive renovations in 2006 and 2007. The facility
consists of approximately 98,300 square feet and sits on 3.5 acres.

The buyer, a real estate investment trust adds these beds/units to the approximate 26,000 living units already owned in 34 states. At the time of the sale, occupancy, at the facility, was approximately 95 percent.

The facility sold for $21 million, or approximately $81,081 per bed/ unit.

Jeff Binder and Nick Cacciabando of Senior Living Investment Brokerage, Inc. handled the transaction.

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