LUFKIN - Senior Living Investment Brokerage Inc. (SLIB) has sold The Grace Care Center of Lufkin for $4.5 million.
The 54,000-sf facility consists of 145 beds and sits on more than 5 acres.
The property has maintained a census around 65 percent for the past couple of years. The new operator should be able to improve on the census, payor mix and profit margins, according to SLIB.
An Oklahoma real estate owner purchased the facility, and a Fort Worth-based operator, which already operates in Lufkin, will be taking over the management of the facility. The new owner plans to invest $1 million in capital improvements in the first year.
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