60 Seconds with Swett: 2024 On Track for Record M&A Year
We have been saying for the past few months that we are currently on a record pace of M&A activity for seniors housing and care properties, and our preliminary results for the first half of the year show 334 publicly announced transactions. That is not only a record for any six-month period, but it is about 100 deals higher than the 236 recorded in the first half of 2023 and surpasses the 299 deals reported in the first half of 2022. Annualized, that puts 2024 deal volume at 670 transactions, which would also clearly be a record and more than 100 transactions higher than the previous annual record of 559 deals in 2022. And looking at Q2 alone, we recorded 183 transactions, which puts... Read More »
PE Firm Divests AL/MC Community to Nonprofit
A not-for-profit organization took over ownership of an assisted living/memory care community in Minnesota from a private equity firm seller. There’s a headline that falls out of the narrative of The New York Times. Senior Living Investment Brokerage’s Jason Punzel, Vince Viverito, Brad Goodsell and Jake Anderson represented the PE firm, which was selling a geographic outlier in its regional portfolio. Diamond Willow Assisted Living & Memory Care was built in 2006 in the town of Alexandria, located in between Minneapolis and Fargo, North Dakota. It offers 26 beds in 20 units on a three-acre campus. The not-for-profit buyer was aiming to expand its presence in Minnesota, both in... Read More »
Owner/Operator Purchases Distressed Texas SNF
Senior Living Investment Brokerage facilitated the sale of a skilled nursing facility in Longview, Texas. The seller was a Texas-based partnership divesting its only senior care asset. The building’s management company exited the operations three months prior to closing, which further led to the discussion of a potential sale. Built in 1972, Havencare Nursing & Rehabilitation comprises 108 beds across 24,653 square feet on 3 acres. Occupancy was 72.2% at the time of marketing. Revenues in 2023 were $5.9 million, but the facility was operating just below breakeven. The facility is also enrolled in QIPP, which provides for additional revenue not already in the financials. The purchase... Read More »
Selectis Sells Georgia SNF
Selectis Health engaged Blueprint in the divestment of its skilled nursing facility in Macon, Georgia. Archway Transitional Care features 100 beds and is operated by Ethica Health & Retirement, a subsidiary of Community Health Systems of Georgia, the largest not-for-profit provider in the state. The facility is within close proximity to the Houston Medical Center. Blueprint negotiated the sale of the real estate to the operating tenant as the facility was the only lease in its portfolio, ultimately advancing its strategic approach within the state. Closing occurred less than 60 days from term sheet execution. Michael Segal and Daniel Waldhorn handled the transaction. The seller and... Read More »
Meridian Capital Group Closes Out Strong Q2
Meridian Capital Group’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson, closed over $850 million in transaction volume in the second quarter of 2024 across 26 transactions, following $525 million closed in the first quarter of the year across a mix of investment sales and financings. In their most recent transactions, the platform successfully sold four skilled nursing facilities comprising 800 beds in Massachusetts and Connecticut for $60.6 million, or $75,750 per bed. They also sold two skilled nursing facilities in Tennessee with 276 beds for $28 million, or $101,450 per bed, also arranging $22.4 million in financing from a REIT for the acquisition.... Read More »Schedule a demo
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