REITs agree on SNF deal for $117k per bed
A Chicago-based real estate firm recently brokered the $7.2 million sale of a skilled-nursing home in Bloomsburg, PA.
The transaction — which was between two publicly traded real estate investment trusts with a “national presence” — was of the Bloomsburg Rehab & Wellness Center, a 66-bed SNF, built in 1997. That amounts to about $117,000 per bed, Evans Senior Investments noted in a press release.
The purchaser in the transaction did so in an aim to build its presence in the Northeast, and capitalize on the SNF's reputation. Currently, Bloomsburg Rehab & Wellness is more than 90% occupied.
“This transaction creates a win-win for both buyer and seller, as the facility will continue to be a strong provider in the market,” said Jason Stroiman, founder and president of ESI. “Given both buyer and seller were institutional owners this met the short- and long-term strategic goals for both organizations.”