Kauhale Health Acquires in Ohio
A growing owner/operator added another community to its portfolio in Ohio. Kauhale Health acquired Symphony Centerville, a 60-unit memory care community in Centerville, Ohio, a suburb of Dayton. Built in 2016, the community has 57 private and three shared units, and exclusively caters to private pay residents. There are also amenities like a great room with fireplace, community theater, large exterior courtyard with walking/patio areas, a spa, resident gardens, rehab spaces and aromatherapy. We understand the property improved its occupancy and operating margin significantly since the pandemic, but there is still some room for improvement. Kauhale Healthcare Real Estate, an affiliate of... Read More »
NHI Makes Largest Purchase Since 2020
The publicly traded REITs seem to be some of the most obvious group of investors to take advantage of the attractive buying opportunity in seniors housing today, but so far, Welltower has hogged most of the spotlight. That is unsurprising, given Welltower’s size. And the smaller REITs saw few portfolio deals on the market in the last year, instead having to acquire properties in piecemeal. However, National Health Investors has announced its largest deal since 2020, acquiring 10 assisted living/memory care communities in North Carolina for $121.3 million, or $232,400 per unit. Blueprint originally marketed two communities on behalf of the joint venture owner, but the deal eventually... Read More »
Investor Purchases Upstate New York ALP Portfolio
A portfolio of ALP (Assisted Living Program) communities sold in upstate New York, with Dave Balow of Senior Living Investment Brokerage handling the transaction. ALP properties serve those who are medically eligible for nursing home placement (and mostly are Medicaid recipients) but provide care for them in a less medically intensive, lower cost setting more similar to an assisted living community. So the state saves on the higher cost of a nursing home, and the provider earns a higher rate than a typical assisted living community. Win-win. The New York-based seller owns and operates assisted living communities in the downstate region, and divested all of its ALP assets in the... Read More »
Struggling Community Trades in Arkansas
Evans Senior Investments arranged the sale of a seniors housing community in Maumelle, Arkansas (Little Rock MSA). Built in 2007, Stonehaven Assisted Living comprises 60 assisted living units with both private pay and Medicaid residents. However, over the past year, the community faced some major difficulties. At the time of marketing, occupancy was just 53%, causing financial, staffing and other daily operational challenges. Recognizing the need for a change, the seller, a national healthcare system, chose to exit the market. A private company ultimately acquired the asset and partnered with a Midwest-based operator, marking its second investment in the state. The transaction was... Read More »
MONTICELLOAM Closes SNF Portfolio Financing
MONTICELLOAM, LLC, a specialized multifamily and seniors housing bridge lending platform, and its affiliates announced the closing of $59.25 million in bridge and working capital financing for a portfolio of skilled nursing facilities in the Chicago area of Illinois. Karina Davydov originated the loan, which carries a two-year term with two six-month extensions. A growing regional operator was the borrower and financed its acquisition of three skilled nursing facilities with more than 700 licensed beds. Proceeds from the $52.25 million bridge loan were used for the acquisition, while the $7.0 million working capital revolver will be used to support the day-to-day operations across the... Read More »Schedule a demo
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