Sale of San Marcos, Texas, 174-Bed Skilled Nursing Facility Announced
GLEN ELLYN, IL–SLIB, a leader in the seniors housing transaction market, facilitated the $7.6M sale of Regent Care Center of San Marcos, TX. This 174-bed community shows excellently for its 2008 construction.
Multiple regulatory issues faced the community in the past, causing low census, limited cash flow and high turnover. An experienced director brought in at the beginning of 2018 has already boosted operations, and the community is on track for success. San Marcos is located in central Texas, approximately 30 miles south of downtown Austin and 50 miles northeast of downtown San Antonio. The community is easily accessible via Interstate 35.
The Seller is a Texas-based non-profit owner-operator looking to divest of this location. The Buyer, a regional operating group, looks forward to leveraging existing community strengths and investing in the continued success of this community as regulatory issues improve at the facility. The Buying Entity has also entered the facility in the Texas QIPP program.
SLIB was able to leverage their nationwide marketing platform and regional expertise to create a qualified, confidential market for this offering.
“This transaction allowed for the outgoing operator to exit this market,” said Matthew Alley, Managing Director,” who arranged the transaction. “This deal showed the benefits of SLIB’s local focus, as the purchaser is a mid-sized owner-operator with other facilities located in Texas. There were some regulatory issues at the facility, which the Buyer hopes to correct and build census.”