Jacksonville Case Study
An assisted living facility in the area of Jacksonville, Florida had gone into arrears on its mortgage. The facility was in receivership and the receiver asked The Hamister Group, Inc. to manage the business until it was sold.
Since The Hamister Group, Inc. had knowledge of the marketplace, the company quickly understood that the facility was not maximizing its marketing opportunities. By reshaping the sales and marketing approach, the Hamister Group was able to take the overall census from 50% to 70% in one year’s time.
The Hamister Group, Inc. also acted as a stalking horse for the efforts to sell the property, setting a floor price.
The bank was hoping to sell the property for approximately 60%-70% of the mortgage. Thanks to strengthened operational performance under the management of The Hamister Group, as well as the stalking horse price set by the company, the facility sold for 90% of its mortgage, providing the bank with a significantly improved transaction.
To talk about how we can help you, contact Dan Hamister, our Senior Vice President of Business Development at DMH@HamisterGroup.com or call (716) 839-4000.
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