Regional Owner/Operator Acquires in Washington
Jason Punzel of Senior Living Investment Brokerage facilitated the sale of Moran Vista Senior Living in Spokane, Washington. Built in 1997 and expanded and renovated in 2008, it is situated on approximately 4.76 acres and comprises 131 (30 independent living, 86 assisted living and 15 memory care) units. Occupancy was 88% at the time of sale. The seller was a Pacific Northwest owner divesting to focus on core assets within its portfolio, and the buyer is a regional owner/operator with approximately 20 communities in Washington and Arizona. The community sold for $22.5 million, or $172,000 per unit, at a 3.06x GIM. Read More »
Ensign Expands in Tennessee and Alabama
The Ensign Group, Inc. acquired the operations of nine skilled nursing facilities in Tennessee and Alabama: Meadowbrook Healthcare and Rehabilitation Center (83 beds in Pulaski, TN), Wellpark Health and Rehabilitation (30 beds in Knoxville, TN), Legacy Park Health and Rehabilitation (176 beds in Knoxville), VanAyer Senior Living and Rehabilitation (91 beds in Martin, TN), Union City Health and Rehabilitation (115 beds in Union City, TN), Decatur County Healthcare (125 beds in Parsons, TN), Savannah Nursing and Rehabilitation (120 beds in Savannah, TN), Westwood Nursing and Rehabilitation (90 beds in Decaturville, TN) and The Health Center at Research Park (91 beds in Huntsville, AL). ... Read More »
Public REIT Divests to Regional Owner/Operator
Bradley Clousing and Daniel Geraghty of Senior Living Investment Brokerage were engaged to confidentially sell a senior living community in Maitland, Florida. The community comprises Savannah Court, which offers 102 units of assisted living, and Savannah Cove, which comprises 39 beds and 24 units of skilled nursing care. The seller was a publicly traded REIT, and the buyer was a regional owner/operator with strong experience in both SNF and AL assets. The buyer intends to conduct a robust physical plant upgrade immediately. This is a strong and attractive submarket within the Orlando MSA and the building improvements should be well-received. Read More »
Strawberry Fields Acquires in Kansas
Strawberry Fields REIT entered into a purchase and sale agreement with an unaffiliated seller for six senior care properties in Kansas. The purchase price is $24 million, or $68,000 per bed, payable at closing. The six properties include five skilled nursing facilities and one assisted living community, totaling 354 beds. They will be leased to Advena Living for an initial 10-year period, plus two five-year tenant options on a triple-net basis. Additionally, the lease will increase Strawberry Fields’ annual rents by $2.4 million and is subject to 3% annual increases. Strawberry Fields plans to purchase the properties utilizing its current working capital, and anticipates closing the... Read More »
Regional Midwest Management Company Acquires in Missouri
Senior Care Realty was engaged by a mom & pop in their divestment of a seniors housing community in the Kansas City, Missouri MSA. This was their only long-term care property and they are selling to enter retirement. Built in 1995 in several stages by the seller, with the last phase in 2008, the community comprises 69 independent living and assisted living units. The community was fully occupied at the time of sale with a waitlist, and is 100% private pay. It generated close to $2.1 million in income in 2024, running at a 36% margin. Sounds like a great operation. A regional Midwest management company, which is expanding to multiple states, bought the community and will look to... Read More »Schedule a demo
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