Ziegler Handles Providence Portfolio Sale
The Ensign Group, Inc. has agreed to acquire eight facilities in the states of Alaska, Washington, Oregon and California, subject to the completion of certain regulatory approvals and other closing conditions. This acquisition includes the real estate and operations and are being acquired from Providence Home and Community Care. The real estate assets for all eight facilities will be purchased by Standard Bearer Healthcare REIT, Inc. Six of the eight operations will be operated by Ensign affiliated operating companies and two facilities will be operated by a third-party tenant that will enter into a new, long-term triple net master lease with Standard Bearer as landlord. Dan Revie of... Read More »
Ignite Medical Resorts Acquires in Texas
Blueprint was engaged by a Houston-based real estate developer and investment firm to facilitate the sale of a skilled nursing facility in El Paso, Texas. The facility had been leased to a subsidiary of Vibra Healthcare, a national specialty hospital and skilled nursing operator based in Pennsylvania. Built in 2017, VibraLife El Paso features 60 transitional care beds, 16 assisted living beds and 16 memory care beds with 63 physical units including 34 private suite accommodations. It maintained stable assisted living and memory care occupancy while boasting a high-quality transitional care payor mix. However, the transitional care census was stagnant due to shorter average length of... Read More »
Class-A Community Trades in Philadelphia
Berkadia announced the sale of a Class-A independent living, personal care and memory care community in the Philadelphia MSA. It was built in 2019. Berkadia Seniors Housing & Healthcare, led by Managing Directors Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers, closed the transaction on behalf of the seller, a private equity firm. The number of residents in the 75+ age cohort within a 10-mile drive of the community is projected to increase by 15.1% over the next five years. This group of seniors boasts an average net worth of over $1.9 million. The primary market area currently features no construction activity and an anticipated demand for an additional 500 independent... Read More »
Wisconsin AL Community Changes Hands
On the heels of his closing in Minnesota, Bob Richards of Senior Care Realty headed over to Wisconsin to sell a small assisted living community in Dane County. Built in the mid-1990s, the community featured 20 units and a mostly Medicaid census. But occupancy was 100%, and the community operated at a strong margin above 30%. That is impressive, considering its size. It ended up being too small for the regional owner/operator’s typical model, so it sold to an East Coast owner/operator with a growing Wisconsin portfolio. The purchase price came to $1.8 million, or $90,000 per unit. VIUM Capital helped finance the acquisition for the buyer, which has now purchased four small assets in the... Read More »
Private Asset-Based Lender Acquires Two Senior Notes
Blueprint facilitated the sale of two senior notes secured by 24 seniors housing communities. The portfolio of communities spans approximately 1,200 units across eight states. Prior to the sale, all of the communities securing the notes transitioned to a new, national operator as part of a larger corporate wind down of the borrower. Individual performance at the communities varied notably throughout the portfolio, however, on a consolidated basis the portfolio was roughly 70% occupied and generated revenue of approximately $50 million. Blueprint approached a select group of investors with a strategy to demonstrate that the unencumbered value of the assets exceeded that of the notes’ value,... Read More »Schedule a demo
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