Eight Wisconsin Senior Care Assets Sell in Four Deals
Senior Care Realty had an active October, with a handful of deals closed by Chad Wegner and Bob Richards. The four transactions involved senior care assets spread throughout Wisconsin. In one of the transactions, Chad Wegner of Senior Care Realty sold four assisted living and memory care communities across two campuses in Wisconsin. The owner/operator seller, a repeat client that was exiting to shift its focus to other strategic pursuits, owned the campuses for more than 10 years. The assets sat in a tertiary market with 52 units and 55 beds. They were built in the late-1990s to early-2000s and delivered strong NOI. Performance has historically fluctuated with census, and they faced... Read More »
Public REIT Offloads SNFs Following Lease Non-Renewal
Blueprint started the fourth quarter well after selling a portfolio of skilled nursing facilities in Florida, California and Virginia, on behalf of a public REIT. The existing tenant elected not to renew its master lease, prompting the portfolio divesture. The first closing was completed in Florida for two high-quality SNFs. The two facilities are situated along the Gulf Coast and were built in 2008 and 1988. At the time of marketing, the near-stabilized facilities were both well occupied with attractive quality payor mixes, further supported by the state-implemented Medicaid reimbursement rate increases effective October 2024. Marketing efforts yielded 12 highly competitive offers from... Read More »
Senior Care Owner/Operator Acquires AL Community
Dan Mahoney and Dillon Rudy of Blueprint were engaged by a Louisiana-based not-for-profit owner/operator to market a 40-unit assisted living community in the Inland Northwest region of Idaho. The property maintained a steady resident base and in-place HUD financing. The organization was divesting because the asset no longer geographically aligned with its broader mission and operational footprint. The marketing campaign focused on finding regional and national buyers that would be capable of continuing to fulfill the seller’s mission and the community’s reputation. Blueprint identified a leading owner and operator of seniors housing, assisted living, and home health & hospice... Read More »
Developer Divests to Capital Group
A Class-A seniors housing community near Wichita, Kansas, found a new owner thanks to Evans Senior Investments. The seller developed the community in 2014 and has operated it since then. There are 101 units of independent living, assisted living and memory care. Occupancy was consistent around 90%, and the operating margin was in the high-20s, which could be improved considering the share of IL units. That is the sort of ideal acquisition candidate we have seen generate substantial interest from buyers in today’s market. In the end, a rapidly growing capital group partnered with a regional operator aggressively looking to grow their portfolio in the region to acquire the property.... Read More »
Stellar Senior Living Finances Arizona Community
Marcus & Millichap arranged $22 million in financing for The Springs of Scottsdale, a 143-unit independent living community in Phoenix, Arizona. Paul Winterowd secured the financing with a national life insurance company on behalf of Stellar Senior Living. The sponsor secured a five-year loan at 60% loan-to-value, with a competitive interest rate of 6.05% and a 27-year amortization schedule. The property is located in the heart of downtown Scottsdale and offers one- and two-bedroom units equipped with full kitchens and individually controlled heating and air conditioning. Additional amenities include all-inclusive dining, housekeeping and linen services, a full-time concierge and a gym... Read More »Schedule a demo
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