DETROIT — Knapp Group Seniors Housing Advisors of Marcus & Millichap has brokered the sale of an 88-bed skilled nursing facility in metro Detroit. The name and specific location were not disclosed.
The 60,000-square-foot building was constructed in 1998 and located on 4.5 acres. The nonprofit owner had a declining census at the time of the sale. A local buyer with a history of turning around underperforming nursing acquired the facility.
Jim Knapp and Justin Knapp were lead advisors on the transaction. Although the price was not disclosed, the transaction equated to approximately $80,000 per bed, or $7.7 million.