Kiser Group Facilitates $7 Million Sale of Skilled Nursing Facility in Greater Cleveland Area

Kiser Group Partner Mark Myers successfully closed the sale of an 84-bed senior housing community located in a rural market east of Cleveland. The property traded for $7 million and features a diversified care mix comprising 76 Skilled Nursing Facility (SNF) beds, 5 Assisted Living Facility (ALF) units, and 3 Independent Living Facility (ILF) units.

Situated on 26 acres, the community was originally constructed in 1950 and expanded through multiple additions between 1965 and 2001, offering operational flexibility and long-term adaptability. At the time of sale, occupancy ranged between 70% and 80%, with a 44% quality mix, negative EBITDA, and a strong 5-star CMS rating, positioning the asset as a compelling value-add opportunity for an experienced operator.

The buyer is a seasoned owner-operator with a large skilled nursing portfolio across the Midwest and a growing presence in Ohio. Leveraging localized market expertise and proven operational capabilities, the purchaser plans to implement strategic initiatives aimed at improving cash flow and enhancing overall performance.

The seller was a family ownership group based in the Cleveland region, marking the successful transition of a long-held asset to an institutional-quality operator positioned for sustained growth.

“This transaction highlights continued investor demand for senior housing assets with strong clinical metrics and operational upside,” said Mark Myers, Partner at Kiser Group. “Despite near-term operational challenges, the property’s CMS rating, scale, and land basis made it an attractive acquisition for a buyer with the expertise to unlock long-term value.”

Kiser Group continues to expand its national senior housing and healthcare real estate platform, providing specialized advisory services to owners navigating complex transactions across skilled nursing, assisted living, and independent living sectors.