Senior Living Investment Brokerage recently facilitated the sale of two Tennessee skilled nursing communities with a total of 176 beds.
The transaction involved Mt. Pleasant Health & Rehab Center (with 72 skilled beds, and Pleasantwood Apartments, with 30 independent living units) in Mount Pleasant, TN, and Trinity Health & Rehabilitation Center (with 104 skilled beds and 16 vacant assisted living units) in Lenoir City, TN.
The seller was identified only as a regional real estate owner concentrating its efforts in continuing care retirement communities. SLIB said the previous owner decided to divest the specific assets to focus on their core business.
The buyer is a regional owner/operator with other existing communities in Tennessee.
“This was a win-win transaction where the seller divested two non-core assets and the buyer enhanced their existing portfolio,” said SLIB Managing Director Ryan Saul.
