Public REIT Divests Two Georgia AL/MC Communities
Berkadia was engaged in the sale of two assisted living and memory care communities in the Atlanta, Georgia MSA. The communities are located in Atlanta and Marietta and total 146 units. The seller was a publicly traded REIT. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders handled the transaction. No additional details were disclosed. Read More »
Missouri-Based Provider Acquires SNF Portfolio (with HUD debt)
Blueprint was engaged by Birchwood Healthcare Partners, a Chicago-based private investor and owner/operator, in its sale of its eastern Oklahoma skilled nursing portfolio. The regionally clustered portfolio comprises seven facilities that total 561 beds. It benefited from the recent Medicaid rate increases and steady census rebounds. There was attractive assumable HUD debt on select facilities, and improved performance tracking towards historical highs. The marketing process resulted in multiple competing offers and rounds of bidding. Birchwood selected a familiar Missouri-based provider as the ultimate buyer. There were bifurcated closings upon final HUD approval for the loan... Read More »
Joint Venture Acquires AL Community in Colorado
Ziegler was engaged by Bethesda Senior Living in its sale of a stabilized, well-performing assisted living community in Grand Junction, Colorado. Bethesda is divesting this non-core asset to focus on the growth of its mission. Cornerstone Management purchased the community in conjunction with a private real estate fund. Eric Johnson handled the transaction, noting that the largest hurdle to getting it closed was location, as the community sits outside the primary markets, which limited the buyer pool. Read More »
60 Seconds with Swett: M&A Activity Heats Up in May
We have said this before, but the seniors housing and care M&A market is on pace to record its best-ever year in terms of transaction activity, and by some margin. Already by this point in May, we are closing in on 250 transactions for the year, so far, which puts us on track for more than 600 publicly announced deals when we close out 2024. The split between skilled nursing and seniors housing activity followed historical norms, at 42% of the deals being for SNFs. And over $2.5 billion of transaction volume has been publicly disclosed, not including scores of deals with confidential prices, including large portfolios. How could volume be so high despite a challenging lending and... Read More »
Atlas Healthcare Makes CCRC Purchase in Massachusetts
Evans Senior Investments was engaged by an independent owner/operator in its divestment of a CCRC in Shrewsbury, Massachusetts. Shrewsbury Campus is made up of three components: Southgate at Shrewsbury (senior living), Shrewsbury Nursing & Rehabilitation (skilled nursing) and Shrewsbury Medical Center (medical office buildings). ESI ran a competitive and confidential marketing process, engaging with a select group of prospective buyers. The Atlas Healthcare Group was ultimately selected as the buyer, for an undisclosed price. Built between 1969 and 1986, Southgate and Shrewsbury Nursing total 171 independent living units, 60 assisted living units and 99 skilled nursing beds. The IL and... Read More »Schedule a demo
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