Spotlight on Senior Care M&A, Sixth Edition
The SeniorCare Investor is releasing a mid-year update of its key valuation statistics for the assisted living, independent living and skilled nursing sectors in its latest report: Spotlight on Senior Care M&A. Check out the average prices and cap rates, as well as analysis of industry headwinds and tailwinds. Read More »
NY Owner/Operator Expands in Tennessee
Blueprint facilitated the sale of a seniors housing community in Tennessee. Amy Sitzman, Kyle Hallion and Giancarlo Riso handled the transaction, marketing the asset to a combination of national, regional and local buyers. Purpose-built in the late-1990s, the community is in an attractive submarket of eastern Memphis and features 77 assisted living and memory care units. It has a long history of stable occupancy and margin, however, it experienced notable performance declines stemming from the impact of the pandemic, like many other communities. The selected bidder is a Buffalo, New York-based owner/operator seeking to expand its Southeastern geographic footprint. Blueprint worked... Read More »
Elder Care Partners Purchases in Missouri
An 81-bed RCF that was in receivership and struggling operationally sold in Sedalia, Missouri. Plains Commercial Real Estate was engaged by the court appointed receiver, Mike Flanagan, to market and sell the facility that sits about 90 minutes from Kansas City. Built in 1987, Stoney Ridge Village was approximately 56% occupied at the time of marketing. It had been cash flow negative for a few years. The buyer was Northeast-based owner/operator Elder Care Partners, which has similar facilities in the state. The facility faced operational headwinds that accelerated the timeline to get to closing. Daniel Morris handled the transaction, which closed quickly in approximately seven weeks from... Read More »
Regional Owner/Operator Acquires Western Missouri SNF
Evans Senior Investments facilitated the sale of a skilled nursing facility in western Missouri. The seller was an independent owner/operator looking to exit the industry. Built in 1987, the facility comprises 199 beds across 4.4 acres. At the time of marketing, it faced several operational challenges, including a 2-star CMS rating, 54% occupancy and negative cash flows. ESI ran a competitive marketing process, targeting a select group of qualified buyers. During the process, ESI navigated the Right of First Refusal held by the existing operator. By bringing in a new buyer, a regional owner/operator with an existing presence in the state, the asset was able to sell at a competitive... Read More »
Financing Obtained for SNF Portfolio Acquisition
First Citizens Bank announced that its Healthcare Finance business served as lead arranger of $115 million in financing for the acquisition of eight skilled nursing facilities in Illinois that comprise over 1,500 beds. The borrower is a Midwest-based healthcare real estate investment and management company that invests in a variety of post-acute facilities, with investments in over 24 states. Read More »Schedule a demo
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