GALVESTON and PORT ARTHUR, Texas —Senior Living Investment Brokerage (SLIB) has arranged the sale of two skilled nursing facilities in Port Arthur and one in Galveston totaling 493 beds.
The seller was a regional owner-operator looking to consolidate its portfolio. The buyer is a regional owner-operator based in Utah that is expanding its portfolio into Texas. The price was not disclosed.
The buyer is planning to invest in improving the property appearance and focusing on leveraging operational experience for stabilizing the portfolio.
Matthew Alley and Vince Viverito of SLIB handled the transaction.
“This transaction allowed for the owner to exit a non-core market,” says Alley. “The deal faced several delays due to concerns with COVID-19, but the buyer closed at the original offer price.”