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| Mark Myers |
BUTLER, PA – Institutional Property Advisors (IPA), a
brokerage division of Marcus & Millichap serving the needs of institutional
and major private investors, has arranged the sale of Sunnyview Nursing and
Rehabilitation Center, a 240-bed nursing home in Butler, Pa., the seat of
Butler County. The sales price is $20,500,000.
IPA
senior director Joshua Jandris and IPA executive director Mark Myers,
along with IPA associate Charles Hilding and Matthew Gorman, a
vice president investments in Marcus & Millichap’s Philadelphia office,
represented the seller, Butler County, Pa. The buyer is a private
Northeast-based healthcare property investment firm.
“Our
45-day marketing period produced nine bidders for the property and we closed 45
days after the signing of the advance pricing agreement,” says Jandris. “The
sales price included the purchase of the facility and the accounts
receivables.”
“This
sale is an example of our effectiveness at providing owners with the
opportunity to choose among many solid offers, assisting sellers throughout the
bidder vetting process and finding the buyer who best meets all of the seller’s
objectives,” adds Myers.
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| Joshua Jandris |
Built in 1963 on more than seven acres,
the property is located at 107 Sunnyview Circle in Butler, Pa., minutes from
downtown.
The sale
of the Sunnyview Nursing and Rehabilitation Center is Jandris, Myers, Hilding
and Gorman’s fifth Pennsylvania county nursing home transaction, and the 14th
county home closing they have arranged in the last four years.
In March 2014,
the team brokered the sale of Friendship Ridge, a 605-bed skilled nursing
facility in Beaver, Pa. for $33.5 million.
For a complete copy of the company’s news release, please
contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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