Ryan Saul and Jason Punzel of Senior Living Investment Brokerage sold a portfolio of four skilled nursing facilities and three assisted living communities in Wisconsin that were placed into receivership in September 2018 when their for-profit owner/operator, Atrium Health and Senior Living, was unable to fulfill its financial obligations. SLIB was hired by a Wisconsin-based […]
The joint venture between Titan Development and EverWest Real Estate Investors decided to sell two of its “Élan” assets in the Southwest. Each property features 77 assisted living and 36 memory care units, for a total of 220 units with 226 beds. The Austin, Texas property opened in late 2016, and just after, the Albuquerque […]
Bob Gaines of Colliers International headed to Maryland’s Eastern Shore to sell a 32-bed assisted living/memory care community. Located in the upscale 55+ beach community of Ocean Pines, which features amenities like an 18-hole golf course, two marinas, five swimming pools, a yacht club, country club, tennis club, hiking trails and, of course, beach access, […]
With a maturing mortgage looming, the owners of a recently expanded assisted living/memory care community in Evansville, Indiana decided to refinance with the help of Mario Wilson and Bill Janis of Helios Healthcare Advisors. Originally purchased in 2012, the community underwent a complete renovation and re-opened in 2015 as Evansville’s first stand-alone memory care community. […]
After acquiring two skilled nursing facilities in Tennessee as part of a larger portfolio deal, a regional real estate owner, who focuses more on the CCRC market, decided to divest the properties with the help of Ryan Saul, Daniel Geraghty and Brad Clousing of Senior Living Investment Brokerage. Located about 60 miles southwest of Nashville, […]
The Ensign Group grew its skilled nursing portfolio by five facilities in two separate transactions, bringing its total holdings to 213 skilled nursing properties in 13 states. The larger transaction consisted of the operations of four facilities in North Texas that will be subject to long-term, triple-net leases and purchase options following year-five of the […]
Rob Reis of Marcus & Millichap recently sold a 45-unit assisted living community in Modesto, California, representing the single-asset owner/operator who was looking to exit the business. The seller developed the property in the 1980s, and has operated it ever since. Occupancy was 84%, and it was bringing in nearly $385,000 in NOI on approximately […]
A skilled nursing facility in Cherry Hill, New Jersey (Philadelphia MSA) with a wide variety of service offerings, just refinanced through HUD with the help of Dwight Capital. Built in phases from 1986 to 2002, it now totals 246 beds with five distinct units, including a 40-unit behavioral management unit, a 20-bed ventilator care unit, […]
Cornerstone Healthcare, an operator of skilled nursing facilities in the Pacific Northwest, filed for Chapter 11 bankruptcy protection. The CEO, Will Masterson, announced the reorganization in a statement filed with the U.S. Bankruptcy Court Western District of Washington that listed lender and lessor issues as the reason for it. Operations across the portfolio weren’t great […]
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