Address: 9025 Northwest Expy, Yukon, OK 73099, USA, Yukon, Oklahoma, US
Created date: September 20, 2023
Date last updated: September 20, 2023
Plains Commercial has been retained as the exclusive marketing adviser for the sale of Heritage Assisted Living (Heritage) in the Oklahoma City MSA. Offers will be evaluated based on price, terms, and investor qualifications. Heritage offers investors an opportunity to acquire a “B” quality ALF at well below replacement cost with strong in place cash flow. The facility currently offers a mix of both private pay and Medicaid Advantage residents. The State of Oklahoma implemented a 25% permanent rate increase in the fall of 2022 for the Medicaid Advantage program showing the state’s commitment to the program.Heritage has a long history of high occupancy and strong cash flows with a strong reputation within the market. The facility offers investors a unique opportunity to take over a facility with strong in place cash flow and continue to grow on the strong operating history within the market. Heritage also has an assumable HUD loan in place with attractive terms. For investors looking for lower leverage, the assumption of the existing HUD loan offers the opportunity to boost their levered yield. Located in northwest Oklahoma City, Heritage is centrally located near hospitals, skilled nursing facilities, major retail developments, and major residential developments. This offers investors convenient access for any travel needs, access to major healthcare providers, access to a number of potential referral sources, and a strong local resident population to pull from and market to.