by Steve Monroe | Feb 7, 2019 4:25 pm | Financings
To finance the acquisition of two skilled nursing facilities in New Jersey, Monticello Asset Management worked on behalf of a previous client to provide first lien debt financing for the deal. The two facilities totaled 328 beds and were acquired on the heels of... Read More »
by Steve Monroe | Feb 6, 2019 7:02 am | 60 Seconds, Opinion, Statistics
The headwinds facing skilled nursing and assisted living have finally had their impact on acquisition values. We are obviously not in good times right now, but it is also not as bad as it sometimes appears. The mood is cautious for most, but hopeful for many, as... Read More »
by Steve Monroe | Feb 6, 2019 7:01 am | Acquisitions, Financings
As it continues to improve its capital structure and rationalize its lease exposure, Genesis HealthCare has joint ventured with Next Healthcare Capital to buy 15 skilled nursing facilities with 2,147 total beds previously leased from Welltower located in Pennsylvania... Read More »
by Steve Monroe | Feb 6, 2019 7:00 am | Acquisitions
Starting his year off strong, Dave Balow of Senior Living Investment Brokerage sold an Assisted Living Program (ALP) community in western New York for $3.0 million, or $125,000 per unit, at a 10.2% cap rate. Introduced in the state around 30 years ago, the ALP program... Read More »
by Steve Monroe | Feb 5, 2019 2:38 pm | Acquisitions
Ray Giannini of Marcus & Millichap sold a senior care campus in Wisconsin for $14 million, or about $80,500 per bed. Located on the Illinois border in Beloit, the property features 120 skilled nursing and 54 assisted living beds. The SNF was well occupied but with... Read More »