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Bell Tower Senor Living
MIG’s inaugural sale: a 55-unit IL community, closed with multiple offers.
Overview
This was MIG's first official sale. The owner of a 55-unit IL/AL/MC community in NW Illinois was looking to divest his community by year end.
Results
For these smaller more rural deals, it's necessary that a brokerage know the local owner / operators in the state. MIG had many parties interested in the deal and eventually selected a Chicago group to move forward with the deal. The end was a bit hectic getting a signature notarized from the seller last minute while he was out on a fishing trip, but fortunately, all was completed just in time.
Conclusion
Having an agent with a specialization in the state of sale for deals like this is extremely important to getting a deal done. A smaller deal can often be just as much work as a larger deal, and the larger ownership groups typically only want to spend time on larger check sizes. To this end, knowing the local owner / operators in the state that are looking for these size deals is what it takes to get them sold.
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