SLIB Handles High-Quality SNF Sale in Texas
Matthew Alley of Senior Living Investment Brokerage handled the sale of a high-quality skilled nursing facility in Lubbock, Texas. Built in 2010 and 2013, Crown Point Health Suites features 108 beds and is well maintained. It also performed strongly, with a 20% margin on nearly $14.5 million of revenues, and an 86% occupancy rate. Its independent owner/operator decided to sell to a Texas-based regional operator for $23 million, or $213,000 per bed, at a 12.8% cap rate. The buyer emerged from multiple competitive offers. Read More »
Jaybird Senior Living Acquires Multi-State Portfolio
An affiliate of Jaybird Senior Living, Jaybird Capital, acquired five senior living communities across Utah, Wisconsin and Minnesota. Jaybird assumed management of the communities in October and stabilized them before executing on the purchase. The company is currently targeting the addition of 15 more communities to its portfolio throughout the year, and it plans to grow its portfolio to over $1 billion in value within five years. Berkadia represented the seller in the deal. Read More »
Newly Formed Investment Firm Enters Senior Care
An 84-unit assisted living/memory care community in Jacksonville Beach, Florida, recently traded with the help of Continuum Advisors, which represented the institutional joint venture seller. Built in 2014, Beach House has 64 assisted living and 20 memory care units, with 100 licensed beds. It is situated on a barrier island near some of the most affluent coastal communities in Northeast Florida. The community also benefits from its proximity to Baptist Medical Center Beaches and Mayo Clinic’s Jacksonville campus. It was last acquired in 2021 by a partnership between Florida-based Foundry Commercial and New York-based Fundamental Advisors LP. Foundry’s seniors housing management... Read More »
Seller Divests Geographic Outlier to Large Owner/Operator
Senior Living Investment Brokerage announced that it sold a well-occupied seniors housing community in Oregon. The building is on an acre in Sheridan, and comprises 44,805 square feet. It was developed in 1996 and features 53 assisted living units. The community was 94% occupied at the time of closing. Jason Punzel, Vince Viverito, Jake Anderson and Taylor Graham at Senior Living Investment Brokerage represented the seller, who deemed the community a geographic outlier, as its portfolio is primarily concentrated in Southern Oregon and Northern California. The ultimate buyer is a large owner/operator that was looking to expand its portfolio. Read More »
Stand-Alone MC Community Trades in Arizona
Blueprint represented an institutional seller in the sale of its stand-alone memory care community in the Lake Havasu City-Kingman, Arizona MSA. Built in 2009, the asset features 48 units with 60 beds and received approximately $2 million in recent capital improvements. There is opportunity for occupancy growth and rental rate optimization. The marketing process generated strong interest from a range of regional owner/operators, with the selected buyer being a real estate investor that partnered with an experienced operator looking to establish a presence in the market. The transaction was structured as a lease with a purchase option, marking the first deal between the newly formed... Read More »
Clarion Partners Continues Its Acquisition Streak
Clarion Partners continued on its acquisition streak, adding two communities in California to its growing portfolio. The latest deal featured The Commons on Thornton and The Commons at Union Ranch, two seniors housing communities totaling 198 units in California’s Central Valley. They were previously owned and operated by MBK Senior Living, which was represented by JLL’s Seniors Housing Capital Markets team in the deal. JLL’s Aaron Rosenzweig and Dan Baker led the transaction. Thornton was completed in 2004 and consists of a two-story building with 100 assisted living and memory care units in a variety of floor plans. It was 94% occupied. Built in 2008, Union Ranch offers 98 units of... Read More »
Multiple Senior Care Acquisition Financings Close
M&A transactions are getting done at a near-historic pace, and CIBC Bank USA recently financed three deals. The largest was $43.3 million in acquisition financing for two senior care assets in the Nashville area of Tennessee. The properties include a combined 310 independent living units, 273 skilled nursing beds and 93 assisted living/memory care units. Both buildings have an effective age of 35 years and reported an average occupancy rate of 75%. The financing was handled by Matthew Tyler and Neal Netzel with CIBC. Next, the same pair closed a new $5.7 million commercial mortgage term loan for a regional operator’s acquisition of a 114-bed senior care facility in North Carolina.... Read More »
Olympus Retirement Living Expands
The Zett Group closed the sale of a 63-unit assisted living/memory care community in the Boise, Idaho market. Set in the town of Emmett, Meadow View Senior Living was trending positively in its operations, but there was still some work to be done. An owner/operator engaged Blake Bozett and Spud Batt to sell the community to an undisclosed buyer. Olympus Retirement Living will take over operations. Read More »
Large Senior Care Portfolio Trades Hands
A portfolio comprising senior care assets across Washington State recently sold with the help of JCH Senior Housing Investment Brokerage. At first, only one of the assets was brought to market, but an offer emerged for the entire nine-facility portfolio. The price for the skilled nursing, assisted living and independent living campuses ranged from $70,000 per bed to $120,000 per bed, with a total price of $55 million. Cindy Hazzard handled the deal. No additional details have been disclosed. Read More »
Stellar Senior Living and Clarion Partners’ Active March
Stellar Senior Living announced it completed three transactions with Clarion Partners in March. In one of the deals, they completed the recapitalization of The Gallery at Spokane in Spokane, Washington, which was rebranded as The Grand at Spokane. Developed in 2024 by NexCore Group, the community offers 137 independent living, assisted living and memory care units. Stellar Senior Living has operated the community since it opened and will continue to do so. In another transaction, the joint venture acquired San Martin Senior Living in Las Vegas, Nevada, and renamed it The Grand at Southern Hills. The community was completed in two phases in 2008 and 2010, and features 144 independent... Read More »Schedule a demo
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