SLIB Tops $1 Billion in Texas Transactions
Senior Living Investment Brokerage and Matthew Alley topped $1 billion in transaction volume in the state of Texas following the sale of a portfolio of four skilled nursing facilities. The Cascades Portfolio features a combined 647 beds and locations in Port Arthur (two), Houston and Galveston. The facilities were built from 1955 to 1993, with various renovations over the years. Performance could be improved, since occupancy sat at just 42%, and the portfolio was generating little cash flow on $24.24 million of revenues. It may not have helped that these were the only Texas facilities owned by the Utah-based operator/seller. A Texas-based real estate owner bought the portfolio for... Read More »
SLIB Handles High-Quality SNF Sale in Texas
Matthew Alley of Senior Living Investment Brokerage handled the sale of a high-quality skilled nursing facility in Lubbock, Texas. Built in 2010 and 2013, Crown Point Health Suites features 108 beds and is well maintained. It also performed strongly, with a 20% margin on nearly $14.5 million of revenues, and an 86% occupancy rate. Its independent owner/operator decided to sell to a Texas-based regional operator for $23 million, or $213,000 per bed, at a 12.8% cap rate. The buyer emerged from multiple competitive offers. Read More »
Jaybird Senior Living Acquires Multi-State Portfolio
An affiliate of Jaybird Senior Living, Jaybird Capital, acquired five senior living communities across Utah, Wisconsin and Minnesota. Jaybird assumed management of the communities in October and stabilized them before executing on the purchase. The company is currently targeting the addition of 15 more communities to its portfolio throughout the year, and it plans to grow its portfolio to over $1 billion in value within five years. Berkadia represented the seller in the deal. Read More »
Newly Formed Investment Firm Enters Senior Care
An 84-unit assisted living/memory care community in Jacksonville Beach, Florida, recently traded with the help of Continuum Advisors, which represented the institutional joint venture seller. Built in 2014, Beach House has 64 assisted living and 20 memory care units, with 100 licensed beds. It is situated on a barrier island near some of the most affluent coastal communities in Northeast Florida. The community also benefits from its proximity to Baptist Medical Center Beaches and Mayo Clinic’s Jacksonville campus. It was last acquired in 2021 by a partnership between Florida-based Foundry Commercial and New York-based Fundamental Advisors LP. Foundry’s seniors housing management... Read More »
Seller Divests Geographic Outlier to Large Owner/Operator
Senior Living Investment Brokerage announced that it sold a well-occupied seniors housing community in Oregon. The building is on an acre in Sheridan, and comprises 44,805 square feet. It was developed in 1996 and features 53 assisted living units. The community was 94% occupied at the time of closing. Jason Punzel, Vince Viverito, Jake Anderson and Taylor Graham at Senior Living Investment Brokerage represented the seller, who deemed the community a geographic outlier, as its portfolio is primarily concentrated in Southern Oregon and Northern California. The ultimate buyer is a large owner/operator that was looking to expand its portfolio. Read More »Schedule a demo
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