Healthcare M&A Volume Falls in Q1:24, According to Acquisition Data from LevinPro HC
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Institutional Investor Divests Class-A Community in Illinois
Senior Living Investment Brokerage facilitated the sale of a Class-A seniors housing community in a southern submarket of Chicago, Illinois. The seller was a Midwest-based institutional investor that had partnered with Dial Senior Living on a larger portfolio. The asset had reached its investment horizon within a fund, hence the divestiture. Willow Falls comprises 188 units of independent living, assisted living and memory care in the town of Crest Hill. It was purchased by a Midwest-based owner/operator looking to expand its existing footprint in the Midwest and to enhance the assisted living and memory care components at the community, as well as improve occupancy. There was a... Read More »
In-Place Operator Purchases Two Struggling SNFs in Louisiana
Evans Senior Investments arranged the sale of two skilled nursing facilities located about 10 miles apart in southwest Louisiana on behalf of an independent owner. Built in 1970 and 1972, the facilities comprise around 350 beds and are situated in Lake Charles. Prior to the pandemic, the facilities maintained an average occupancy rate of 72%. As if the pandemic was not bad enough, in the summer of 2020, Hurricane Laura devastated the area resulting in both facilities undergoing significant renovations. Since reopening, the facilities have struggled to achieve pre-pandemic and pre-hurricane census levels. At the time of marketing, the facilities were still recovering from a census... Read More »
Investor Divests to Investor in Tennessee
Working on behalf of a national developer/investor, Blueprint closed the sale of another older vintage seniors housing community as part of a larger divestment of over a dozen geographically disparate communities. The assets were purchased in a sizable portfolio transaction before the pandemic, but operational headwinds forced a portfolio re-prioritization and de-levering effort. The seller also wanted to preserve liquidity. Kyle Hallion and Alex Florea most recently sold a 48-unit assisted living community in a southeast suburb of Memphis, Tennessee. Built in 1997, the community featured 70 licensed beds, and like the other assets, its performance struggled after the pandemic. Blueprint... Read More »
Berkadia Closes Transaction Trio
The Berkadia team consisting of Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders closed out the first quarter with three transactions arranged on behalf of a publicly traded REIT. The largest property sold was a 104-unit assisted living/memory care community in Florence, Kentucky. Located about 10 miles southeast of Cincinnati, Ohio, the community was built in 2007 and was not performing at the time of the sale, with the Cincinnati Business Courier reporting that occupancy recently improved from under 50% to 60%. It appears to be Inspirations of Florence, which was previously operated by Grace Management. Multiple sources identified the buyer as a partnership between a... Read More »Schedule a demo
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