The Evangelical Lutheran Good Samaritan Society, a not-for-profit owner/operator, sold three of its skilled nursing campuses in northwest Illinois, near the Iowa border. Totaling 214 skilled nursing beds and 65 independent living/senior apartment units, the portfolio was well maintained and boasted good local reputations. The buyer will look to manage expenses and boost operational synergies to improve their performance. Plus, the new operator, Allure Healthcare Services, has plenty of experience with rural skilled nursing facilities in the area, which should certainly help. Amy Sitzman and Michael Segal of Blueprint Healthcare Real Estate Advisors handled the transaction on behalf of Good Samaritan.
Blueprint’s Dan Mahoney and Blake Bozett also announced that they sold a nine-acre seniors housing development site in Redding, California. Representing a regional owner/operator, the pair positioned the offering as an opportunity to acquire the land inclusive of building lands for a 227-unit campus that would constitute independent living, assisted living, memory care and cottages. In the end, another regional owner/operator emerged as the buyer and will enter the California market with the purchase. The entitlements and permits for the project were renewed, and construction will begin this fall.
