Two Former Senior Care Centers SNFs Sell For $20.5M

September 5, 2019, Maggie Flynn, Skilled Nursing News - Two skilled nursing facilities in Texas formerly operated by Senior Care Centers, which declared bankruptcy last year, were purchased by a New York-based owner-operator group for $20.5 million.  The facilities, located in New Braunfels and in Round Rock, Texas, were each built in 2008 and have 128 licensed beds.

The SNF in New Braunfels was almost 75% occupied at the start of marketing, while the Round Rock facility was almost 64% occupied.  The seller was a local real estate owner, and the buyer assumed an existing Department of Housing and Urban Development (HUD) loan.  Matthew Alley of Senior Living Investment Brokerage facilitated the transaction.