NORTHPORT, Ala. — Senior Living Investment Brokerage has arranged the sale of Forest Manor, a 182-bed skilled nursing facility in the Tuscaloosa suburb of Northport.
The price of $15.5 million equates to $85,165 per bed. Totaling 101,610 square feet, the community was built in 1973 but renovated several times over the years, most recently in 2008.
The seller was a single-asset operator and second-generation owner looking to exit the skilled nursing market. The buyer is a private group based in New York that is looking to expand across the Southeast.
The buyer was assisted by Lazmore Capital on the transaction. Bradley Clousing, Daniel Geraghty and Toby Siefert of Senior Living Investment Brokerage led the transaction.