Toronto, Canada-based Invesque (TSX: IVQ) announced it has entered into an agreement to purchase 20 assisted living and memory care communities from Commonwealth Senior Living for $340.4 million, or about $236,400 per unit. All but one of the communities are in Virginia, with one in Pennsylvania. Of the total units, 863 are assisted living, 486 […]
Bob Richards of Senior Care Realty drew on his years of experience to close three sales of assisted living communities located throughout Wisconsin. First up, he represented an individual owner in her sale of a 50-unit AL community in a small town about 25 minutes outside of Green Bay. Originally built as a 16-unit community […]
National Health Investors expanded its relationship with Comfort Care Senior Living, adding another Michigan assisted living community to its existing portfolio with the operator. The collaboration began in 2018 when NHI acquired two assisted living communities in Bridgeport and Saginaw, Michigan for $17.1 million, or $164,400 per unit. Those properties, both built within the last […]
Working on behalf of The Arboretum Group (TAG), Lancaster Pollard helped arrange two bridge loans to recapitalize five of their skilled nursing facilities in Texas. The first loan, coming in at $12 million with a 12-month term, was closed for two SNFs in south Texas to refinance existing debt and help take out equity. Then, […]
Some board and care homes are giving the senior care business a bad name in their mistreatment of immigrants. There is an ugly side to immigration and low-wage workers in the senior care market. Bad people exist everywhere, and it is as difficult to keep them out of our business as it is in any […]
Skyline Healthcare just sold three of its Arkansas skilled nursing facilities to Strawberry Fields REIT for a combined price of $14.3 million, or $32,200 per bed, at an approximate cap rate of 10.7%, based on Q1:19 financials, annualized. Included in the deal was a 120-bed SNF in Newport, the newest of the facilities having been […]
After being announced earlier this year, the sale of an 83-bed skilled nursing facility in Jaffrey, New Hampshire has closed thanks to Toby Siefert and Nick Cacciabando of Senior Living Investment Brokerage. Originally built in 1976, this facility is only budgeted and staffed for a functional occupancy of 55 beds. That was the choice of […]
Fred Levine of Greystone successfully arranged bridge financing for the acquisition of seven skilled nursing facilities in the Southeast. Totaling 874 beds, the facilities are located in North Carolina (6) and Kentucky. Their new owner obtained a $71.92 million bridge loan with a 24-month term, two six-month extensions and no prepayment penalty. Greystone expects to […]
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Seniors housing prices saw significant rises in average prices in the 12 months ended March 31, 2019. Assisted living itself jumped 10% from $186,400 per unit in 2018 (according to our Seniors Housing Acquisition & Investment Report) to $204,000 per unit in the latest four-quarter period. Meanwhile, independent living rose a more moderate 6% from […]
