SAN MARCOS, Texas — Senior Living Investment Brokerage has arranged the sale of Regent Care Center of San Marcos, a 174-bed skilled nursing facility in San Marcos, located between Austin and San Antonio.
A Texas-based, nonprofit owner-operator sold the property to a regional operating group for $7.6 million.
The community was built in 2008. Multiple regulatory issues faced the community in the past, causing low census, limited cash flow and high turnover, according to the broker. An experienced director brought in at the beginning of 2018 has already boosted operations.
Matthew Alley of Senior Living Investment Brokerage arranged the transaction.
“This transaction allowed for the outgoing operator to exit this market,” says Alley. “This deal showed the benefits of SLIB’s local focus as the purchaser is a mid-sized owner-operator with other facilities located in Texas. There were some regulatory issues at the facility, which the buyer hopes to correct and build census.”