Another Family Owner/Operator Exits the Industry
As Covid-19 has led to overall decreases in senior housing occupancy levels, Sherer Management joined several of its peers by closing down its multigenerational family business with the sale of its last two CCRCs in Iowa. These properties include a total of 188 beds at Rose Vista in Woodbine and Longview Home in Missouri Valley. They offer skilled nursing, assisted living and independent living services, in addition to hospice services through Generations Hospice. The Sherer family had owned and operated these businesses for over 60 years. Kevin Laidlaw and Dominic Porretta of Lument Securities led the transaction and advised Sherer on the sale of their businesses.... Read More »Recent Senior Care M&A Deals, Week Ending June 18, 2021
Senior care M&A is soaring back this month across all sectors. Check out our recent M&A deal chart. Long-Term Care AcquirerTargetPrice Beacon Health10 skilled nursing facilities in Iowa$24.2 million Regional operator/private capital providerRose Vista in Woodbine and Longview Home in Missouri ValleyN/A Ciena HealthcareLincoln Park Manor$6 million Livingston Street CapitalHaven at Lewisville... Read More »
Evans Senior Investments Sells Dayton Senior Care Facility
A newly renovated senior care facility in Dayton, Ohio that was struggling with census issues sold to a Midwest-based owner/operator with the help of the team at Evans Senior Investments. Featuring 60 skilled nursing beds and 30 assisted living units, the facility was previously owned by an independent owner/operator looking to exit the long-term care industry. It was originally built in 1988 but received a $1.3 million renovation from 2019 to 2020. The updated physical plant and number of private rooms certainly helped its attractiveness, but the facility was averaging just 37% occupancy at the SNF and 45% in the assisted living portion. Plus, the previous owner had not licensed the SNF... Read More »
Blueprint Announces First MOB Deal
Blueprint Healthcare Real Estate Advisors is breaking into the realm of medical office building acquisitions after proving itself as an active dealmaker in seniors housing brokerage. Late last year, Blueprint hired Eric Lee and Chris Lashmet, two veterans in the MOB and REIT space, to build out the practice, which is starting to bear fruit. Blueprint represented the seller, MDG Real Estate Global, in the deal. Seavest Healthcare Properties, backed by its parent company Seavest Investment Group, was selected as the buyer after a competitive marketing process where several MOB players submitted competitive bids. Built in 2013, the targeted building features eight stories and 72,000... Read More »