REIT Divests Eight Connecticut SNFs
Evans Senior Investments arranged one of the larger deals of the month with the sale of a Connecticut skilled nursing portfolio comprising eight skilled nursing facilities in the Hartford MSA. The transaction, executed on behalf of a West Coast-based REIT, later revealed to be Summit Healthcare REIT, amounted to $60.0 million, or $54,000 per bed, for the real estate only. The existing operator, iCare Health Network, was chosen as the buyer. The facilities include Touchpoints at Manchester (Manchester), Westside Care Center (Manchester), Trinity Hill Care Center (Hartford), Chelsea Place Care Center (Hartford), Silver Springs Care Center (Meriden), Touchpoints at Bloomfield (Bloomfield),... Read More »
Two Standalone Memory Care Communities Trade Hands in Illinois
Senior Living Investment Brokerage facilitated the sale of two standalone memory care communities in Quincy and Centralia, Illinois. The seller was a regional developer/owner/operator while the buyer was an Illinois-based owner/operator with an existing presence in the state. It has experience with the Supportive Living Program and intends to focus on increasing occupancy to be the premiere affordable option in the market. The communities were constructed in 2019 and 2017, respectively, and are in excellent condition. The Quincy community consists of 56 units and is one of less than 20 communities in the state licensed as Supportive Living – Dementia Care Setting. It benefited from a... Read More »
Public REIT Divests 12-Asset Wisconsin Seniors Housing Portfolio
Blueprint was engaged by a public REIT in the divestment of a seniors housing portfolio in Wisconsin. The portfolio, clustered in the Milwaukee and the Green Bay MSAs, consists of 12 communities across nine campuses totaling 279 units of assisted living and memory care. Although underperforming at the time of marketing, the portfolio was historically well-occupied and cash-flowing. In a targeted and off-market process, Blueprint identified Adava Care, an entrepreneurial owner/operator with an existing footprint in the Milwaukee MSA, as the buyer. Adava is eager to grow its portfolio and capitalize on the economies of scale this portfolio offers. Kyle Hallion, Lauren Nagle and Brooks... Read More »
Not-For-Profit Divests Senior Care Facility in Wisconsin
Ziegler announced its involvement in the divestment of a senior care facility. The facility comprises 80+ skilled nursing and assisted living beds in Washburn County, Wisconsin. The seller was a 501(c)(3) not-for-profit organization serving elderly and disabled people across the Upper Midwest. The buyer was a local owner/operator. Nick Glaisner handled the transaction. No additional details were disclosed. Read More »
Regional Owner/Operator Divests Facility, Exiting Sector
Daniel Geraghty and Bradley Clousing of Senior Living Investment Brokerage were engaged by a regional owner/operator in its divestment of a senior care facility. The seller is looking to consolidate its portfolio and exit the skilled nursing industry. The buyer is a regional-based owner adding to its portfolio throughout the state, Arkansas. Built in 1990, Indian Rock Village comprises 121 skilled nursing, assisted living and independent living beds/units. There are 28 independent living units, 38 assisted living units and 55 skilled nursing beds. The facility is well-maintained and in excellent condition. It overlooks Geers Gerry Lake and spans 83,825 square feet in Fairfield Bay,... Read More »Schedule a demo
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