SLIB Arranges Sale of 45-Unit Vermillion Place in Anderson, Indiana

by Jeff Shaw

ANDERSON, Ind. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Vermillion Place in Anderson, approximately 30 miles northeast of Indianapolis.

The community comprises 45 units of assisted living care on about two acres.

This particular asset was family owned and it proved difficult to successfully run a smaller, single-site operation, according to SLIB. The owner made the decision to sell and was encouraged by its lender to divest. 

The buyer is a private owner that previously provided the owners with operating, clinical and environmental consulting services for many years. This was the company’s first acquisition into ownership. The price was not disclosed. 

Enrolling in the Indiana Assisted Living Waiver Program will have an immediate impact on occupancy and profitability improvement, according to SLIB.

Ryan Saul and Nick Cacciabando handled the transaction.

“This was a great opportunity for the buyers to acquire a community that needed expertise and TLC,” says Saul. “Despite the challenging lending and interest rate environment, they partnered with a lender that believed in their abilities.”

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