Local RCFE Owner/Operator Grows in California
Sherman & Roylance handled the sale of a seniors housing community in California. The assisted living/memory care community is in Whittier and comprises 18 units with 32 beds. The seller was a long-standing family owner/operator, and the buyer was a local RCFE (Residential Care Facilities for the Elderly) owner/operator looking to expand its portfolio. Shep Roylance, John Sherman, Chris Minnery & Michael Belcher handled the transaction, which involved a combination of investor capital and seller financing. The purchase price was $4.4 million, or $137,500 per bed. No additional details were disclosed. Read More »
All-Cash Buyer Purchases AL/MC Community in Washington
The Zett Group was engaged by an owner/operator in the divestment of a seniors housing community it had owned for 33 years in Central Washington. The community comprises 60 units of assisted living and memory care. The buyer was an owner/operator based out of Seattle. Blake Bozett handled the transaction, having called nearly every owner/operator in the state and procuring five offers. Ultimately, an all-cash buyer was identified. Recognizing the typically slower licensure process in Washington, The Zett Group recommended closing on an interim agreement until the full change of ownership was approved. Randi Nathanson and Parisa Zarelli of Lane Powell PC led the closing, ensuring all... Read More »
Joint Venture Acquires Two Communities in Michigan
JLL arranged the sale of two seniors housing communities in the Detroit, Michigan MSA. JLL represented the seller and procured the joint venture buyer, spearheaded by MedCore Partners. American House Senior Living Communities assumed management of both communities. Built in 2017, Anthology of Troy comprises 93 assisted living/memory care units in Troy. The community will be rebranded as American House Somerset. Built in 2018, Anthology of Rochester Hills features 91 assisted living/memory care units in Rochester Hills. It will be rebranded as American House Hampton Village. Jay Wagner, Rick Swarts and Jim Dooley handled the transaction. No additional details were... Read More »
Regional Owner/Operator Acquires Ohio SNF (with HUD Debt)
Blueprint was brought in in the divestment of a skilled nursing facility in Ohio. Purpose-built in 2015 as a transitional care facility in a northeastern suburb of Akron, the SNF comprises 80 beds and presents numerous paths to stabilization with strong fundamentals and attractive in-place HUD financing. Both regional and national acquirers were targeted, resulting in offers from five credible groups. The selected bidder was a regional owner/operator with significant experience in northeast Ohio, allowing for a quick HUD Transfer of Physical Assets Approval. The transaction closed before the end of June, enabling the facility to remain eligible for the Quality Incentive Payment... Read More »
Operator Retains Management After IL/AL/MC Divestment
Berkadia was engaged by Indianapolis-based Leo Brown Group in its divestment of two Class-A seniors housing communities in strong submarkets in Indiana and Ohio. The properties demonstrate robust operating performance with impressive margins, top-line revenue and high occupancy rates. Each being the newest vintage in their respective submarkets, built in 2020 and 2021, the communities comprise 247 independent living, assisted living and memory care units. The communities were developed by Leo Brown Group and operated by Traditions Management. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers handled the transaction. Berkadia ran a competitive process that ultimately allowed... Read More »Schedule a demo
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