GAINESVILLE, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of River Valley Health and Rehabilitation Center, a skilled nursing facility in Gainesville, approximately 60 miles north of the Dallas Metroplex near the Oklahoma border.
The 20,000-square-foot community sits on 1.6 acres and features 84 operational beds, though it is licensed for 116. The location is just one mile from North Texas Medical Center – Gainesville.
Built in 1971, SLIB marketed the property as a value-add opportunity. Due to competition in the area, occupancy averaged only 49 percent in 2018.
A regional owner-operator sold the property as a geographic outlier in its portfolio for $1.5 million. A Texas-based owner-operator acquired the property, hoping to improve operational performance and leverage the relationship with the nearby hospital.
Matthew Alley of SLIB arranged the transaction.