Phoenix & Southwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Phoenix & Southwest  + Southwest  + Healthcare  | 
Las Vegas's TLC Health Care Sells for $50 million

Hill Valley Healthcare Spends $50 Million for Las Vegas Nursing Facility

Evans Senior Investments (ESI) has arranged the sale of TLC Care Center, a 255-bed skilled nursing facility in Henderson. An independent owner-operator sold the asset to Hill Valley Healthcare for $50 million, or $196,000 per bed. The acquisition was Hill Valley Healthcare’s first in Nevada.

Built in 1999, TLC Care Center is located just 10 miles south of the Las Vegas strip. The facility features 35 private and 112 semi-private rooms, which includes 42 ventilator-equipped beds in a designated wing.

Prior to the COVID-19 pandemic, the facility exhibited over 90 percent occupancy levels and produced over $24 million in annual revenue. However, because of the pandemic, occupancy was only 58 percent at the time of marketing.

“The competitive bidding and record-breaking price per bed for a community whose census was below stabilized levels showcases the strength of the skilled nursing market today,” says ESI’s Brendan DeSilvia.

Connect

Inside The Story

Brendan DeSilvia

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Sale/Acquisition