Location, location, location
In a deal that shows location is absolutely crucial to a community’s desirability, an assisted living community in Santa Monica, California with 22 all-semi-private units and just a 50% occupancy rate sold to an undisclosed buyer for $4.4 million, or $200,000 per unit (nearly $10,000 higher than the average for assisted living for sales in the 12-months ending June 30, 2015). Jim Hazzard and Nick Stahler of JCH Consulting Group handled the transaction. Messrs. Hazzard and Stahler, together with Shep Roylance, also facilitated the sale of a 31-year old assisted living/memory care community with 90 units and 120 beds in Los Angeles County, California to an undisclosed buyer for $23.4... Read More »Financing for the “new-normal”
A health complex in West Hartford that had never fully recovered from the losses in reimbursements and operating income incurred during the Great Recession, and from larger healthcare systems in the area, was faced with a dilemma: how do you deal with this “new normal” of operating and reimbursement parameters while still servicing its debt? Hebrew Home and Hospital, Inc. (HHH) is the not-for-profit owner of a 367-bed health campus in West Hartford, Connecticut, which features 277 skilled nursing beds, 45 beds providing hospital-level services, a 22-bed behavioral health unit and a 23-bed complex medical unit. Originally built in 1987, the project was financed with a HUD loan funded with... Read More »Shovels in the ground for first NFL-alumni community
Validus Group recently received plenty of press for its proposed venture (together with investment bank Piper Jaffray) to develop a $1.1 billion dollar pipeline of 33 new assisted living/memory care communities geared towards former NFL players. With over 18,000 former NFL alumni in the country and nearly one-third of them likely to develop some memory impairment, that’s a healthy chunk of the NFL population who may need Alzheimer’s or dementia care. Validus’ plan is to open a community in cities with high concentrations of NFL alumni. While some cities will certainly have higher concentrations of NFL alumni than others, if just a couple of former players move into one of these communities... Read More »Two-property transaction
A private investor group recently sold their 217-unit CCRC in Fayetteville, Pennsylvania, with a separate 70-unit assisted living community in Maytown, Pennsylvania, to a large publicly traded REIT for an undisclosed price. The CCRC, which consists of 13 independent living cottages, 112 independent/assisted living and memory care units and 92 skilled nursing beds, was constructed in stages from 1977 to 2014 and includes both entrance-fee and rental residents. Occupancy there stood at around 88%. The previous owners were mulling plans to construct a 168-unit independent living building on the sprawling 100+-acre property. Meanwhile, the assisted living community, built in 1999 and expanded... Read More »Schedule a demo
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