Foley & Lardner LLP represented West Anaheim Extended Care in its sale of a 138-bed skilled nursing community in Anaheim, California for $25 million.
Westside Anaheim Extended Care, the local owner-operator, sold the skilled nursing facility of the same name to an East Coast-based real estate holding company, which will then lease the property to a new regional operator. The purchase price equates to $181,159 per bed, and at the time of sale, the skilled nursing community was 96 percent occupied and making over $2 million per year in net operating income. The facility also holds a contract for over 50 therapeutic residential care beds.
The Foley deal team was led by Partner Matthew Jassak and included Associates Melody Deatherage, Jennifer Guzman, and Dan Noffsinger.