SLIB Negotiates Sale of 377-Bed Portfolio in South Dakota

SIOUX FALLS and HURON, S.D. — Senior Living Investment Brokerage has arranged the sale of three skilled nursing and assisted living facilities in South Dakota.

Senior Housing Properties Trust, a publicly traded REIT looking to dispose of non-core assets, sold the portfolio to a national seniors housing group with a strong presence in South Dakota for $10.5 million. The buyer will add the new assets to a 16-property portfolio the company made in the state in July.

Situated in the eastern region of the state approximately 125 miles apart, the communities have a combined total of 322 skilled nursing and 55 assisted living beds.

SunQuest Village and SunQuest Healthcare Center are located on the same 9.5-acre campus in Huron. The 45,500-square-foot healthcare center is licensed for 163 skilled nursing beds, while the 46,000-square-foot SunQuest Village features 55 assisted living beds.

Southridge Healthcare Center, located in Sioux Falls, is licensed for 159 skilled nursing beds. The building sits on over six acres of land and totals 33,300 square feet.

Jason Punzel, Jeff Binder and Ryan Saul of Senior Living Investment Brokerage handled the transaction.