A Sign To Come?

Here’s something we may be hearing more of next year. Increased competition, lowered census and staffing issues prompted one owner of an assisted living/personal care community in Southwest Pennsylvania to retire early from the business. Built in 1965 and renovated in 1997, the 58-unit community had a history of strong profits and high occupancy until […]

 

 

New York Investment Fund Wins Bid For Knoxville Property

In late November, the team of Mike Surak, Joshua Jandris and Mark Myers of Institutional Property Advisors, a division of Marcus & Millichap, closed on the sale of a 69-unit assisted living and memory care community in Knoxville, Tennessee. The community opened in early 2017 with 54,000 square feet on 6.91 acres. Of the total, 51 units are assisted […]

acquisition-deal
acquisition-deal

Diversicare Divests Three Kentucky Properties

After a “challenging quarter” when Diversicare Healthcare Services reported a net loss of $7.4 million, (compared with a $600,000 loss last third quarter), a drop in average occupancy to 79.3% (down from 80.1%) a $6.4 million contingent liability fund regarding potential false claims violations, AND the departure of their CEO Kelly Gill, the company completed the […]

Alliance Moving Forward at Massachusetts SNF

The not-for-profit senior care operator, Alliance Health & Human Services, secured both a permanent refinance of its 101-bed skilled nursing facility in Braintree, Massachusetts, and a more stable financial future to further its mission there. The $14.2 million HUD loan, arranged by Aaron Becker of Lancaster Pollard, is the sixth overall closed in the relationship. […]

SunTrust Sets Eyes On Colorado Bridge Financing

SunTrust Bank’s ears must have been burning, because on the day of our webinar, Bridge Loans: The Hottest Lending Product for Seniors Housing and Care (which you can still listen to here), the bank originated a $31 million bridge loan for an independent living community in Colorado Springs, Colorado. Just completed earlier this year, the […]