Summit Healthcare REIT just expanded its holdings in the Northeast, adding nine skilled nursing facilities with 1,285 licensed beds. Along with joint venture partner Fantasia Investment III LLC, a U.S.-based affiliate of Fantasia Holdings Group Co., Ltd., Summit acquired an interest in these facilities out of receivership.
A 40-unit (56-bed) memory care community on the coast of New Hampshire that recently went through a Chapter 11 bankruptcy restructuring just sold to Port Development, a private investor group, for $11 million, or $275,000 per unit. Sanctuary Care had developed the Rye community in 2013 for approximately $13 million, or $325,000 per unit. But, […]
Plugging along this summer with a healthy number of transactions closed so far has been the team at Blueprint Healthcare Real Estate Advisors. After announcing five deals since the start of June, the firm closed two more this August in the Midwest. First, to Ohio, where the team of Connor Doherty and Brian Payant represented […]
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Amid rumors that a moratorium has been placed on large Chinese companies making significant purchases in the U.S. senior care market (like Zhonghong Zhuoye Group Co Ltd.’s proposed acquisition of Brookdale Senior Living), Hong Kong-based Chevalier International Holdings Ltd. continues to invest, recently adding two more senior living communities and 299 units in the Detroit, […]
Three years after it opened in Tulsa, Oklahoma, an 86-unit assisted living/memory care community sold to an undisclosed buyer. To fund the purchase, Monique Bimler of KeyBank Real Estate Capital arranged a $13 million, or $149,400 per unit, Freddie Mac loan, with a 10-year term and 30-year amortization schedule. Legend Senior Living had developed the […]
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Joshua Jandris, Mark Myers and Charles Hilding of IPA Seniors Housing represented Morris County (New Jersey) in leasing its 283-bed skilled nursing facility in Morristown. The four-story facility had been struggling, losing as much as $3.8 million in annual EBITDA per year. It didn’t help that the county outsourced all aspects of operations. The facility is […]
Blueprint Healthcare Real Estate Advisors certainly has kept busy this summer, announcing four transactions in the last week. Connor Doherty closed two SNF transactions for Blueprint, both located in Ohio. The larger deal consisted of two facilities and 252 total beds, selling for a combined $16.75 million, or $66,470 per bed. The regional owner/operator seller […]
Senior Living Investment Brokerage ended July with two closings. First, a family owner that had operated a pair of Texas skilled nursing facilities for decades recently decided to sell to an independent owner/operator based in the Waco area for $9.35 million, or about $38,000 per bed. Built in 1978 and 1964, respectively, the 131-bed facility […]