BlackRock Purchases in Massachusetts
Berkadia facilitated the sale of a seniors housing community in the Boston, Massachusetts MSA. The seller was Wood Partners, which developed the community. The buyer was an entity linked to BlackRock Realty Advisors. Built in 2022, Alta Oxbow is a recently stabilized seniors housing community in Wayland with 218 units across three buildings in Wayland, Massachusetts. The community includes 55 units designated as affordable, and 66 units restricted to people over age 55. Within the 55 affordable units, 17 will be restricted apartments for those over the age of 55. The community has an 86% renewal trend and 12% year-to-date rent increases. Chris Phaneuf and Adam Dunn handled the... Read More »
Georgia MC Community Converting to Behavioral Health
BWE Investment Sales handled the divestment of a seniors housing community in the Atlanta, Georgia MSA. Built in 2017, The Crossings at Webb Bridge Road is in Alpharetta and comprises 50 memory care units. The community sits on a 3.4-acre plot. It was owned by a Midwest-based alternative investment firm. At the time of the deal, the community was not in operation, and the new owner will renovate the property and convert it for behavioral health use. Details surrounding the seller, buyer and purchase price were not disclosed. The transaction was handled by Charley Bissell, Senior Vice President for BWE Investment Sales. This closing marks the sixth community sold by Bissell over the past 18... Read More »
Mid-Year Update: Senior Care M&A Valuations (Sponsored by HealthTrust)
The SeniorCare Investor presented the latest M&A and valuation statistics derived from its proprietary database, updated for the last four-quarter period, in its latest webinar, Mid-Year Update: Senior Care M&A Valuations. Panelists Colleen Blumenthal, MAI Chief Operating Officer of HealthTrust, Joel Mendes, Managing Director, JLL, Seniors Housing Capital Markets, and Josh Simpson, Managing Director of Meridian Capital Group, discussed current trends in the market, potential pitfalls to avoid in the dealmaking process and 2025 M&A strategies with moderator Ben Swett, Managing Editor of The SeniorCare Investor. Read More »
Northland Networks Funds Arkansas Acquisition
Northland Networks, which was acquired by First National of Nebraska in 2023, has closed a number of transactions so far this year, most recently arranging two acquisition loans for CCRCs in Arkansas. Both previously owned and operated by Evangelical Lutheran Good Samaritan Society, the assets were part of the not-for-profit’s exit from 15 states and consolidation of its services to the Midwest. The CCRCs are located in Hot Springs Village and Mountain Home, Arkansas, and attract higher income seniors in their respective areas. Hot Springs Village was built between 1986 and 2006 and features a combination of 90 independent living units (including six two-unit buildings and a 78-unit... Read More »
July Sparked a Surge at Senior Care Realty
Chad Wegner of Senior Care Realty experienced a busy July, closing four separate transactions involving several seniors housing assets. First, Wegner facilitated the sale of an assisted living portfolio comprising three communities. The seller was a mom & pop with an existing footprint in the state. Built in the last 20 years and all having been updated more recently, the communities each feature eight beds in Madison, Wisconsin. The residents are high-acuity, and it is mostly private pay. NOI was strong, with the seller running close to a 35% margin, putting the cap rate at around 12% to 13%. The buyer, an existing in-state owner/operator looking to expand, paid $4.3 million,... Read More »Schedule a demo
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