Ensign’s at It Again
The Ensign Group acquired a skilled nursing facility and an assisted living community, both in Norfolk, Nebraska. Built in 1968, St. Joseph Rehabilitation and Care Center comprises 83 skilled nursing beds. Skyview Villa Assisted Living features 20 assisted living beds. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc. This acquisition brings Ensign’s growing portfolio to 324 healthcare operations, 30 of which also include senior living operations, across 14 states. Ensign subsidiaries, including Standard Bearer, own 123 real estate assets. Ensign is actively seeking opportunities to acquire real estate and to lease both well-performing and... Read More »
Publicly Traded REIT Divests to Cougar Capital Management
Berkadia announced the financing and sale of a senior living community in South Setauket, New York. Mike Garbers, Cody Tremper, Ross Sanders and Dave Fasano closed the sale transaction on behalf of a publicly traded REIT. Berkadia provided both investment sales and mortgage banking services for the 196-unit independent living and assisted living community. The community will be rebranded as The Village at South Setauket and undergo extensive capital expenditure projects. Willow Ridge Senior Living will operate the community on a go-forward basis. Steve Muth and Austin Sacco secured $15.6 million in acquisition and capex financing through Old Second Bank on behalf of the buyer,... Read More »
Ohio-Based Operator Purchases Ohio SNF
Senwell Senior Investment Advisors handled the divestment of 112-bed skilled nursing facility Memorial Gables, which is in Union County, Ohio, and was built in 2001. The facility was owned by Union County and operated as part of the Memorial Health system. The buyer was a highly regarded Ohio-based operator with a strong reputation for excellence in senior care. Ben Bohland handled this transaction. Senwell engaged more than 400 organizations nationally, with 68 signing non-disclosure agreements and ultimately 11 submitting formal offers. The selected buyer, with more than 25 years of experience in Ohio’s senior care industry, operates numerous facilities across the state and is... Read More »
Brookdale Senior Living Continues to Clean Up
Brookdale Senior Living made a series of announcements as the third quarter ended, most of which appear to be setting the stage for better times ahead and an improved capital structure. But, and there is always a but, there is still more work to be done and one large lease to be decided on. The company continues to pare down its leased portfolio, which in some cases represented a tightening noose around its neck. In the first transaction, Brookdale agreed to acquire 11 senior living communities with 1,228 units for $300 million, or about $244,300 per unit, a relatively high price point for Brookdale. It had been leasing them from a Welltower joint venture for annual cash rent of $22... Read More »
Sonida Closes Eight-Property Portfolio Deal
On the last day of the third quarter, Newmark’s team, which included Ryan Maconachy, Chad Lavender, Mills Poynor, Ben McElroy and Sarah Anderson, closed a couple of seniors housing deals featuring Class-A assets. First was a deal that we heard about in August, which was Sonida Senior Living’s purchase of eight seniors housing communities in the Southeast previously owned by Principal Senior Living Group. These eight assisted living/memory care communities, operated under Principal’s Benton House brand, total 555 units, split between 383 assisted living and 172 memory care units, and average five years old, as opposed to the 19-years-old average for properties in the surrounding... Read More »Schedule a demo
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