Skilled Nursing Transaction Announced in Gainesville, Texas
GAINESVILLE, TX–SLIB, a leader in the seniors housing transaction market, facilitated the turnaround sale of River Valley Health and Rehabilitation Center of Gainesville. The community encompasses +/- 20,000 sq. ft. on a +/- 1.6 acre lot, offering 116 licensed beds and 84 operational beds.
This 1971-built community struggled with occupancy due to local competition, averaging approximately 49% in 2018. The Buyer hopes to provide cosmetic updates and operational turnaround. The community is located one mile from the nearest hospital, North Texas Medical Center – Gainesville, and the Buyer hopes to further leverage this partnership.
According to Matthew Alley, Managing Director, who arranged this $1.5M turnaround transaction, “This transaction allowed for the outgoing operator to exit this market. This deal showed the benefits of SLIB’s local focus as the purchaser is a mid-sized owner-operator located in Texas. The facility is in the QIPP program and has operational upside.”
Gainesville is located in northern Texas, approximately 10 miles south of Oklahoma and 65 miles north of downtown Fort Worth. Major roadways providing access to the community include Interstate 35 and US Highway 82.
The Seller is a regional owner-operator looking to divest of this community, which is a geographic outlier in their portfolio. The Buyer, a Texas-based owner-operator, looks forward to investing in this value-add opportunity and turning around operations.
SLIB was able to leverage their nationwide marketing platform and regional expertise to create a qualified, confidential market for this offering. Alley has sold 108 seniors housing / long-term care facilities in Texas.