• Public REIT Divests Two Georgia AL/MC Communities

    by | May 24, 2024 11:26 am | Acquisitions

    Berkadia was engaged in the sale of two assisted living and memory care communities in the Atlanta, Georgia MSA. The communities are located in Atlanta and Marietta and total 146 units. The seller was a publicly traded REIT. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders handled the transaction. No additional details were... Read More »

  • Missouri-Based Provider Acquires SNF Portfolio (with HUD debt)

    by | May 24, 2024 9:09 am | Acquisitions

    Blueprint was engaged by Birchwood Healthcare Partners, a Chicago-based private investor and owner/operator, in its sale of its eastern Oklahoma skilled nursing portfolio. The regionally clustered portfolio comprises seven facilities that total 561 beds. It benefited from the recent Medicaid rate increases and steady census rebounds. There was... Read More »

  • CFG Secures Bridge-to-HUD Loan for Massachusetts SNF

    by | May 24, 2024 9:07 am | Financings

    Capital Funding Group announced the closing of a bridge-to-HUD loan totaling $9.75 million on behalf of a nationally recognized borrower. The loan supports the refinancing of a 123-bed skilled nursing facility in Massachusetts. Tim Eberhardt, Craig Casagrande and Ava Julio handled the transaction. This financing follows CFG’s announcement of the... Read More »

  • Joint Venture Acquires AL Community in Colorado

    by | May 24, 2024 9:06 am | Acquisitions

    Ziegler was engaged by Bethesda Senior Living in its sale of an assisted living community in Grand Junction, Colorado. Bethesda is divesting this non-core asset to focus on the growth of its mission. Cornerstone Management purchased the community in conjunction with a private real estate fund. Eric Johnson handled the transaction. No other... Read More »

  • 60 Seconds with Swett: M&A Activity Heats Up in May

    by | May 21, 2024 3:37 pm | 60 Seconds, Acquisitions

    We have said this before, but the seniors housing and care M&A market is on pace to record its best-ever year in terms of transaction activity, and by some margin. Already by this point in May, we are closing in on 250 transactions for the year, so far, which puts us on track for more than 600 publicly announced deals when we close out 2024.... Read More »

Leaving the Lone Star State

by | Aug 23, 2016 7:10 pm | Developments

Civitas Senior Living is expanding its operations outside of Texas for the first time, as it is set to break ground on a senior living community in Louisville, Kentucky. Civitas has been one of the more active developers/acquirers in Texas (and that’s saying something). In 2015 alone, the company opened five new assisted living/memory care communities, and, after forming a new post-acute care division, also acquired two skilled nursing facilities plus an assisted living community in the town of Jefferson, Texas. Then, at the beginning of 2016, Civitas purchased two former Brookdale Senior Living properties in Harlingen, and currently has four communities set to open soon in Texas. After... Read More »

Rocky Mountain Expansion

by | Aug 19, 2016 8:31 am | Developments

Legacy Retirement Communities is slowly expanding out of its home state of Utah, where it already operates nine senior living communities. After opening its first out-of-state community in 2009 in Arizona, the company plans to open its second this fall in Las Vegas, Nevada. Now, Legacy has its eye on another state, having just acquired 6.73 acres in Castle Pines, Colorado for $2.1 million, or nearly $7 per square foot. Legacy plans to build a 178-unit senior living community with independent living, assisted living and memory care services. Pamela Pyms of Pyms Capital Resources represented the seller, Pinark LLC, in this transaction. Read More »
Two Texas-sized SNFs sell

Two Texas-sized SNFs sell

by | Aug 19, 2016 8:30 am | Acquisitions

Blueprint Healthcare Real Estate Advisors’ most recent deal in Texas involved two large skilled nursing facilities, and some 438 beds, for a purchase price of $27.5 million, or $62,785 per bed. The facilities were owned by a well-known family in the Texas skilled nursing world that has been operating since the mid-1970s. The leads on this transaction, Tim Cobb, Steve Thomes and Joshua Salzman, Esq., faced some problems with the uncertainty of the Texas Minimum Payment Amount Program, but eventually sold the facilities to a Los Angeles-based real estate private equity firm with an operating partner. Read More »
Fall from Grace

Fall from Grace

by | Aug 18, 2016 8:23 pm | Acquisitions

Ten years ago, when a 143-bed skilled nursing facility in Liberty, Missouri sold as part of a portfolio to a large undisclosed operator, it was one of the more successful facilities in Clay County. Built in 1992, it is located next to Liberty Hospital and so had a steady stream of referrals. However, after nearly a decade of neglectful ownership, the facility was only 77% occupied by the end of 2014. Genesis Healthcare bought the facility in early 2015 but inherited some operational challenges, and CMS moved to close it by that summer. In the midst of those troubles, Liberty Hospital was developing a CCRC on an adjacent lot, which would include an 80-bed skilled nursing unit. Patrick... Read More »