HENDERSON, Nev. — Evans Senior Investments (ESI) has arranged the sale of TLC Care Center, a 255-bed skilled nursing facility in Henderson.
An independent owner-operator sold the asset to Hill Valley Healthcare for $50 million, or $196,000 per bed.
Built in 1999, TLC Care Center is located just 10 miles south of the Las Vegas strip. The facility features 35 private and 112 semi-private rooms, which includes 42 ventilator-equipped beds in a designated wing.
Prior to the COVID-19 pandemic, the facility exhibited over 90 percent occupancy levels and produced over $24 million in annual revenue. However, as a result of the pandemic, occupancy was only 58 percent at the time of marketing.
“The competitive bidding and record-breaking price per bed for a community whose census was below stabilized levels showcases the strength of the skilled nursing market today,” says Brendan DeSilvia, associate at ESI.
The acquisition was Hill Valley Healthcare’s first in Nevada.