2nd Quarter Investor Call Recording
On Wednesday, July 24, The SeniorCare Investor hosted its Second Quarterly Investor Call, discussing the latest seniors housing and care M&A data, relevant case studies on recent transactions, and audience questions. Ben Swett, Managing Editor of The SeniorCare Investor, moderated the conversation with panelists Ross Sanders, Managing Director, Investment Sales Seniors Housing & Healthcare of Berkadia, Rick Swartz, Senior Managing Director, Seniors Housing Group Leader of JLL, and Hank Fuller, Director of Evans Senior Investments. Read More »Atlas Acquires Florida Seniors Housing Portfolio
Atlas Senior Living and Salta Capital acquired three stabilized seniors housing communities with healthy cash flow in the Orlando, Florida MSA, including Madison at Clermont, Madison at Ocoee and Madison at Oviedo. According to The Business Journals, the seller was Longview Senior Housing, an affiliate of Blackstone Real Estate. We believe these to be former Brookdale Senior Living properties that were previously sold to Longview. Three to four years ago, Longview brought Atlas on as an operator. Built around the late 1990s and all having received some major capex improvements around 2020/21, the assisted living/memory care communities are in Clermont, Ocoee and Oviedo, Florida. The... Read More »
Owner/Operator Purchases in Nevada
Senior Living Investment Brokerage facilitated the sale of a cash-flowing seniors housing community in Las Vegas, Nevada. The seller, a private equity firm, is divesting to exit its fund and the seniors housing industry. The purchase price was $9.5 million, or $77,900 per unit. Built in 1974 and continually renovated as recently as 2023, Sterling Ridge Living comprises 22 independent living units (24 beds), 74 assisted living units (76 beds) and 26 memory care units (52 beds), with a 91% occupancy rate. The community sits on 2.37 acres and spans 89,719 square feet. Revenues were $5.6 million, and EBITDAR was $994,000, resulting in a cap rate of 10.5%. During the marketing period, the... Read More »
Not-For-Profit Divests to Another Not-For-Profit
National Church Residences acquired a 99-year ground lease interest on an affordable seniors housing community in Atlanta, Georgia. This acquisition expands NCR’s affordable seniors housing portfolio to 17 communities in the Atlanta metro area, making it the second largest affordable seniors housing owner in the city. Built in 1979, Cathedral Towers comprises 195 units and will be rebranded as Parish Grove. NCR plans to begin making modest improvements to the community. The seller, Episcopal Cathedral of St. Philip, operated the community for 45 years and will use the proceeds from the transaction to create a fund dedicated to improving access to and the affordability of housing and the... Read More »
Equity Consultants Acquires California Active Adult Asset
Coldwell Banker Commercial West was engaged by a local mom & pop in the divestment of an active adult community in Huntington Park, California. The community is under a building covenant that mandates it be used as 55+ housing with 20% of units rented to low-income seniors until 2038. Built in 1989 with renovations done on 50 of the units in 2005, Seville Gardens Apartment Community comprises 225 units, sits on 1.09 acres and stands four stories tall. Occupancy was hovering around 65%. The community was not stabilized at the time of sale and rents were 25% to 30% below market value. It was making around $675,000 at the time of the sale. Tom Papoulias of Coldwell handled the... Read More »Schedule a demo
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