Manning Gardens Sold in a Quick Sale

Dec. 18, 2015 - PRLog -- Manning Gardens Nursing & Rehab Facility, a well-established facility located in Fresno, California that was sold in a quick sale back in December 2012, closed just last month. Originally featured as a traditional pocket listing, Shep Roylance of JCH Senior Group represented the buyer, a Los Angeles-based skilled nursing owner / operator. As the deal progressed, Roylance’s client recognized the fact that the current owner may be willing to consider a sales leaseback transaction. Over the next 30 days, Roylance and the potential buyer renegotiated the deal, turning it into an outright sales leaseback transaction, allowing the current owner to maintain operation of the facility. Included in the sales leaseback transaction - which was purchased for an undisclosed amount - was a capital improvement budget of $500,000.

Built in 1958, Manning Gardens is a 14,777 square foot facility that is situated on 2.22 acres in Fresno County. A one story building featuring 59 beds, the buyer found that the facility would require several major improvements - including the addition of a professional grade kitchen - in order to meet the standards of other similar nursing home establishments in the area.

This type of facility is within Roylance’s wheelhouse, which is one of the reasons why the closing went so smoothly. The clients, who are wealthy Los Angeles-based owner operators, were able to acquire another facility in Fresno and allow the current owner of Manning Gardens the ability to continue operating the facility after paying down some debt. “I was thrilled for both buyer and seller. It is always a pleasure to work with the Mom and Pop operators and I love creating the team they need to accomplish their goals”, stated Roylance. As soon as the deal officially closed, the new tenant and current licensee of Manning Gardens were able to jump right into renovations, giving the facility some much-needed attention and care.