NORTHBROOK, ILL (September 2024) – 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.