Health Rehab Niche Grows in Rural Areas

A rehab property is very profitable despite the low census of 55% prior to the marketing period and the recent transaction allowed for the in-state operator to lessen its exposure to the Texas Panhandle.

Wheeler Nursing and Rehabilitation is a 75-bed skilled nursing facility constructed in 1982.

WHEELER, TX—During the past four years, Senior Living Investment Brokerage Inc. has completed more than 25% of the publicly announced senior housing transactions. The firm has been in the seniors housing and long-term care market since 1997.

And, the firm’s managing director Matthew Alley just sold his 100th senior housing property in Texas, along with Patrick Byrne. The seller is a publicly traded REIT that specializes in healthcare investments and the outgoing operator is a Texas-based group that focuses on skilled nursing facilities in Texas. The buyer is a regional owner-operator that also focuses on Texas.

The subject property is Wheeler Nursing and Rehabilitation, a 75 bed skilled nursing facility constructed in 1982. The property maintained an average census of 55% prior to the marketing period.

“This transaction allowed for the in-state operator to lessen its exposure to the Texas Panhandle,” Alley says. “The property is very profitable despite the low census. Wheeler is a very rural market, so it took Senior Living’s expertise in the state to find a buyer interested in entering that area.”

GlobeSt.com learns that the facility is approximately 23,585 square feet situated on a 2.07 acre lot. The nursing and rehabilitation facility is in Wheeler County located in the Texas Panhandle, approximately 100 miles west of Amarillo, TX.

Through its nationwide network of buyers and sellers, Senior Living is able to track the movement in the market and identify developing industry trends. Its brokers can target the emerging opportunities on the horizon, while being aware of potential pitfalls not obvious to brokerage firms that do not specialize in the senior housing market.