Cash-Flowing AL Community Trades Hands in Wisconsin
Connor Doherty and Ryan Kelly of Blueprint advised on the sale of a 92-unit assisted living community located just outside of Milwaukee, Wisconsin. The community’s positive cash flow, well maintained physical plant and established referral base, plus some operational upside, made it an attractive prospect for investors. We believe the asset was Clifden Court, which was acquired in 2017 by the private equity firm SHA Capital Partners for $9.12 million, or $99,100 per unit, according to LevinPro LTC’s M&A database. Built in 1998, with additions in 1999 and 2010, the community also received a $1 million renovation from SHA shortly after the acquisition. It also stabilized operations... Read More »
Investor Grows Through Seven-Property Portfolio Purchase
A large portfolio of senior care facilities traded in Ohio and Kentucky, commanding a strong price, we believe, in the process. Connor Doherty and Ryan Kelly of Blueprint advised on the sale of the 983-bed, seven-property portfolio, which features mostly skilled nursing beds and some assisted living units. At the time of sale, the portfolio was generating strong cash flow and benefitting from recent Medicaid rate increases and private room incentive payments, boosting both current income and long-term value. According to those familiar with the listing, the operating margin may have also topped 12% or 13% and must have generated significant cash flow. The assets are within a 90 minute... Read More »
Blueprint Closes Two Deals in IN and NC
A high-quality, well-performing seniors housing community in northern Indiana found a new owner with the help of Ben Firestone, Connor Doherty and Ryan Kelly of Blueprint. The 100-unit assisted living/memory care community appears to be Valparaiso Senior Village, which was built in 2018 across 88,000 square feet. It was originally operated by Arrow Senior Living and owned by the developer, The Argent Group LLC, but struggled with lease-up, only reaching 28% before the pandemic stopped new move-ins. So, ownership closed it in September 2020, and the building was sold vacant in May 2021 for $9.15 million, or $93,400 per unit to an unidentified private equity firm. Evans Senior Investments... Read More »
REIT-Affiliated Owner/Operator Divests Non-Core Asset to Private Owner/Operator
Blueprint facilitated the sale of a non-core seniors housing community on behalf of a national, REIT-affiliated owner/operator. The seller was focused on portfolio optimization through the divestiture of underperforming assets. Kyle Hallion, Steve Thomes and Kory Buzin handled the transaction. Built in 1997, this 85-unit/108-bed assisted living and memory care community is in a high barrier-to-entry submarket of the Greensboro, North Carolina MSA, close to multiple hospitals and medical office clusters. Ownership recently invested approximately $1 million in capital improvements, primarily in back-of-house systems. The incoming buyer has the opportunity to add value through interior... Read More »
Chartwell to Purchase Six-Asset Seniors Housing Portfolio in Ontario
Chartwell Retirement Residences has entered into a definitive agreement to purchase a seniors housing portfolio with six purpose-built seniors housing communities across London (three), Dorchester, Waterloo and Mississauga, Ontario, totaling 1,024 units. The communities serve low-acuity seniors and are all 100% private pay. The total purchase price is CAD$432 million (CAD$422,000 per unit), or USD$317.3 million (USD$310,000 per unit). The portfolio includes Riverstone in London, built in 2021 and 2023, with 124 independent living and 135 active adult units. Also in London is Richmond Woods, built in 2007 and 2010, featuring 130 IL and 112 AA units, along with Longworth, built in 2001, with... Read More »Schedule a demo
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