Vierra Communities Acquires in Maryland
Healthcare Transactions Group, Inc. arranged and facilitated the sale of St. Elizabeth Rehabilitation and Nursing Center, a 162-bed, five-star skilled nursing facility in Baltimore, Maryland. Associated Catholic Charities of Baltimore had previously owned and operated St. Elizabeth, which has a more than 75-year history of serving the Baltimore community, formerly as Jenkins Memorial Nursing Home. The current facility was built in 1992 on Catholic Charities’ flagship 26-acre campus in southwest Baltimore, adjacent to St. Agnes Hospital. The units and dining areas model a non-institutional Green House design. Going forward, the facility will continue to share the campus with the other... Read More »
Tennessee SNF Changes Hands
Evans Senior Investments arranged the sale of a skilled nursing facility in Dresden, Tennessee, on behalf of the Weakley County Commission. Originally built in 1958 with expansions over the years, Weakley County Rehabilitation and Nursing Center features 136 beds and is 100 miles west of Nashville. At the time of marketing, the facility was struggling with a 47% occupancy rate and negative cashflows. Following the Weakley County Commission’s approval of the sale, ESI launched a targeted marketing campaign focused on highlighting the facility’s strengths and untapped potential, procuring multiple interested buyers. The chosen buyer, a regional owner/operator with holdings in neighboring... Read More »
Senior Care Portfolio Trades in Pennsylvania
Senior Living Investment Brokerage closed a five-property portfolio deal in Pennsylvania, featuring a mix of personal care and skilled nursing beds. Ryan Saul and Toby Siefert were engaged by the receiver to confidentially sell the facilities, which are located throughout northwestern Pennsylvania. They included Clepper Manor in Sharon, Kermitage Nursing and Rehab in Hermitage, Lakeview Personal Care in Darlington, Shelburne Personal Care in Butler and The Lakes at Jefferson in Mercer, totaling 156 independent living/personal care units and 159 skilled nursing beds. The properties varied in age, built between 1958 and 2017, but offered a new owner the chance to add to an established... Read More »
AL Community Trades in Oklahoma
A small assisted living campus in Oklahoma City, Oklahoma, traded in a receivership sale with the help of Amy Sitzman, Giancarlo Riso and Kory Buzin of Blueprint. Built in 1999, Dorset Place includes a standalone 36-unit assisted living building and a separate 33-unit memory care building. There was limited competition in the immediate market, and the property was well maintained. But a new owner could take over and implement expense control measures to stabilize the community’s operating cash flow. We imagine the property would come at a healthy discount to replacement cost, as a result. Blueprint procured three competitive offers, ultimately advising the receiver, Mike Flanagan, to move... Read More »
Dealing in D.C.
A small assisted living community in an affluent suburb of Washington, D.C., sold thanks to Ben Firestone, Steve Thomes and Kory Buzin of Blueprint. Owned by a not-for-profit based in D.C. that deemed the sub-50-unit asset to be “non-core,” the property had struggled operationally since the pandemic, but the “exceedingly rare location” of the real estate attracted a lot of attention from both seniors housing and alternative use buyers. Blueprint’s marketing process yielded several competitive bids before one of the alternative-use bidders emerged with the highest and best offer. They structured an agreement that addressed all the unique complexities associated with the use... Read More »Schedule a demo
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