Canoe Brook Assisted Living Portfolio

Plains Commercial Real Estate is pleased to exclusively offer for sale Canoe Brook Assisted Living of Ardmore & Duncan located in Ardmore & Duncan, Oklahoma (collectively the Portfolio). The Portfolio offers investors a unique cash flowing portfolio with a healthy mix of private pay and Medicaid waiver residents. The offering provides investors an opportunity to get into the tight Oklahoma market while establishing immediate operating scale with the facilities being approximately a one hour and fifteen-minute drive apart.  

Sold as a portfolio, the buildings are located in southern Oklahoma in the towns of Ardmore and Duncan. Ardmore is along the I-35 corridor between Oklahoma City and the Dallas metroplex. Ardmore serves as a midway point between the cities being approximately a one and a half hour drive from Oklahoma City and approximately a one hour and forty-five minute drive from the Dallas metroplex. This provides for convenient access for any out of state investors. Ardmore is home to Mercy Hospital of Ardmore, with Mercy being one of the major hospital providers in the region. Ardmore serves as one of the main retail and medical service hubs for a large radius of surrounding smaller communities drawing people from all over southern Oklahoma.

Duncan is located approximately a one hour and fifteen-minute drive northwest of Ardmore. With a growing population of approximately 23,000, Duncan acts as a hub for both retail and medical services for the surrounding communities. Duncan is home to Duncan Regional Hospital as well as many other medical services.

MEDICAID ADVANTAGE WAIVER

The properties are approved to accept Advantage Medicaid Waiver residents and are some of the few facilities in Oklahoma that are approved to accept Advantage residents. The Advantage approval process typically takes a facility 12 to 20 months to achieve and offers investors a strong referral and marketing source that stays with the Portfolio after the sale. This offers a unique ability to bring in both private-pay and Advantage Medicaid residents which offers a very deep pool of potential residents.  

OPPORTUNITY

The Portfolio has strong in-place cash flow with approximately 95% occupancy. The Portfolio offers investors the ability to acquire a portfolio with instant scale that is cash flow positive with a strong in-place return.