NORTHBROOK, Ill., Sept. 10,
2024 /PRNewswire/ -- Hilco Real Estate Sales
(HRE) announces October 17,
2024, as the qualifying bid deadline for the sale of two
assisted living facilities and one senior community center in
Murrells Inlet and Loris, South Carolina: Inlet Oaks Assisted
Living Facility & Memory Care, Oaks of Loris Assisted Living
and HCCOA Loris Senior Center.
Strategically situated at 12287 SC-707, Murrells Inlet, South Carolina, Inlet Oaks
Assisted Living Facility & Memory Care is near a highly
populated residential neighborhood and the beautiful white sand
beaches of Myrtle Beach. Built in
2015, this property sits 10-miles south from Myrtle Beach
Airport and 2-miles west from local beaches consisting of a
one-story building spanning 44,242± square feet on 6.27± acres.
This operating, turnkey facility boasts 60 rooms. With a
current occupancy of approximately 70%, there are opportunities for
increased resident capacity to add to the 100% private pay census
currently residing at Inlet Oaks. This site features four screened
patios, two courtyards, salon, two spas with roll-in shower and
tub, fitness area, community room, commercial kitchen with walk-in
refrigerator and freezer, commercial laundry room, resident game
room, business rooms, outdoor walking paths and an employee
breakroom. With the opportunity to enhance services like memory
care, enhanced resident amenities and optimized bed count in
existing spaces, this offering presents the possibility to
bolster healthcare services in the area.
The second site, Oaks of Loris Assisted Living, located at 260
Watson Heritage Rd., Loris, South
Carolina, is 35-miles northwest of Myrtle Beach. This one-story building totals
34,028± square feet and sits on 5.71± acres. Built in 2015, the
property is currently vacant, but recently underwent a full
renovation of half of the facility, with partial renovations made
to the remaining areas. With a total of 60 beds, 30 semi-private
rooms and 16 private rooms designed for assisted living, there is
also an established Memory Care unit. The upgrades include new air
conditioning units and updates to the salon, two resident spas with
roll-in shower and tub, fitness area, community room, commercial
kitchen with walk-in refrigerator and freezer, self-serving laundry
room, employee breakroom and the large standalone
maintenance/storage shed. While the site is well-suited to continue
operations as an assisted living facility, it also offers the
opportunity for alternative uses through minor retrofitting.
Expanding or redeveloping the current building could further
maximize the value of the property and its overall potential.
The third site, Horry County Council on Aging (HCCOA) Loris
Senior Center, is approximately one site over from the Oaks of
Loris Assisted Living at 1401 Heritage Rd., Loris, South Carolina. This well-maintained
building totals 5,000± square feet and sits on 5.44± acres. The
Loris Senior Center stands out for its comprehensive range of
programs and activities designed to support the physical, emotional
and social well-being of seniors, fostering a sense of community
and active living. A busy day at the Senior Center can see more
than 50 guests and on the slower days 25 guests – many of these
were residents at Oaks of Loris
during its previous operation. The senior center's convenient
location to the Oaks of Loris can
be seen as a complementary amenity for any resident and operator.
The senior center is currently leased and operated by HCCOA who
benefits from both state and federal funding to operate within
Horry County and has been an
active tenant for over a decade.
All three properties are situated in the rapidly-growing Horry
County MSA where Myrtle Beach is
located, deemed the fastest-growing U.S. city for third straight
year in the United States, 2020-23
by the US News and World Reports Annual list of
fastest-growing places in America. The report mentions how
Myrtle Beach "appeals to young
professionals and growing families because of its milder weather
and relatively low cost of living." Within the healthcare sector,
major employers include Conway Medical Center, Grand Strand Health,
McLeod Health and Tideland Health. Adding to the appeal, the
facilities' locations within Horry
County benefit from excellent connectivity through U.S.
Highway 17, Interstate 20, 77, 85, 40, 73 and 95. These major
roadways provide convenient access, further enhancing the city's
accessibility north, south and west.
The two assisted living sites are equipped with significant
capacity for comprehensive care and can be outfitted for future
utilizations beyond their current role as assisted living
facilities, encompassing services like memory care or drug and
behavioral rehabilitation. This ensures the potential for
high-quality healthcare facilities tailored to meet the needs of
the growing community. Investing in a healthcare facility in the
Horry County means joining a
thriving medical community and catering to a population with a
growing demand for these specialized services.
Terry Rochford, senior vice
president of business development at Hilco Real Estate Sales,
stated, "These quality facilities provide the opportunity to
continue the operation of the existing businesses while adding a
variety of operational efficiencies and expanded services to meet
market demand and maximize returns on the investment. We anticipate
a strong response from the market for these assets!"
Steve Madura, senior vice
president at Hilco Real Estate Sales, added, "We are thrilled to
bring not one, not two, but three exceptional assisted living and
senior center facilities in Horry
County to market. These significant opportunities offer a
chance to capitalize on a current and growing need to provide
assisted living and senior community services to the growing
population in Horry County."
Qualifying bids must be received on or before the deadline of
October 17, 2024, and must be
submitted on the Purchase and Sale Agreement (PSA) available for
review and download from HRE's website.
For further information, please contact Stephen Madura at (847) 504-2478 or
smadura@hilcoglobal.com or Michael
Kneifel at (847) 201-2322 or
mkneifel@hilcoglobal.com.
For further information on the property, sale process and terms
or to obtain access to due diligence documents, please
visit HilcoRealEstateSales.com or call (855) 755-2300.
About Hilco Real Estate Sales
Successfully positioning the real estate holdings within a
company's portfolio is a material component of establishing and
maintaining a strong financial foundation for long-term success. At
Hilco Real Estate Sales (HRE), a Hilco Global company
(HilcoGlobal.com), we advise and execute strategies
to assist clients seeking to optimize their real estate assets,
improve cash flow, maximize asset value and minimize liabilities
and portfolio risk. We help clients traverse complex transactions
and transitions, coordinating with internal and external networks
and constituents to navigate ever-challenging market
environments.
The trusted, full-service HRE team has secured billions in value
for hundreds of clients over 20+ years. We are deeply experienced
in complex transactions including artful lease renegotiation,
multi-faceted sales structures, strategic asset management and
capital optimization. We understand the legal, financial and real
estate components of the process, all of which are vital to a
successful outcome. HRE can help identify the most viable options
and direction for a company and its real estate portfolio,
delivering impressive results in every situation.
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SOURCE Hilco Real Estate