Partnership Adds Another Georgia Asset
Scribner Capital, LLC and William James Group, LLC (WJG) added to their Georgia holdings by acquiring Insignia of Newnan, a 40-unit assisted living/memory care community in Newnan, located between Atlanta and Columbus. Bradley Clousing and Daniel Geraghty of Senior Living Investment Brokerage handled the transaction. The community will be rebranded as The Haven at Newnan and added to an existing joint venture that previously acquired two Georgia seniors housing communities. Those assets included River Place (40 units) in Forsyth and Sunny Grove (34 units) in Barnesville. Scribner and WJG had purchased them in July 2022 for an undisclosed price. In that deal, Scribner provided... Read More »
Meridian Reports First Quarter Transaction Volume
The first quarter is in the books, and Meridian Capital Group’s Senior Housing and Healthcare platform, led by Ari Adlerstein and Josh Simpson, closed $575 million in transaction volume in the first three months of the year, following more than $5 billion closed by the platform in 2023. Most recently, the team sold six skilled nursing facilities comprising 517 beds in Indiana for $37.5 million, or $72,500 per bed, and arranged $34.8 million in financing from a finance company along with an $8.5 million A/R line for the acquisition. They also arranged $29.5 million in financing from a commercial bank to refinance a New Jersey property totaling 85 assisted living and 34 memory care... Read More »
LSS Absorbs Diakon
Two large not-for-profits announced that they were combining to create the 12th largest not-for-profit senior living organization in the country. Lutheran Senior Services, based in St. Louis, Missouri, signed an agreement to bring Diakon Senior Living operations and four CCRCs under its umbrella. Both organizations were described by Adam Marles, LSS President and CEO, as financially healthy, not-for-profit organizations that are coming together strategically in the interest of better serving seniors. That has been a common theme among not-for-profits since the pandemic, as they have often required scale to survive in a lower-occupancy and lower-margin environment. But not all have been as... Read More »
SNF Under Receivership Is Acquired in Kansas
Marcus & Millichap was brought on by a limited liability company in the sale of a skilled nursing facility in Topeka, Kansas, that was under receivership. The facility, Providence Living Center, comprises 78 beds across 24,000 square feet and focuses on senior residents with mental health needs. Rod Llanos and Colby Haugness handled the transaction, receiving multiple offers. Ultimately, a qualified buyer with experience in caring for this resident type was selected to acquire the facility. No other details were disclosed. Read More »
Chicagoland Portfolio Finds New Owner
A value-add senior care portfolio in Chicagoland traded with the help of Blueprint’s Ryan Kelly, Connor Doherty, Alex Florea, Lauren Nagle and Brooks Blackmon. The team worked on behalf of a national developer/investor, which had engaged Blueprint to create an exit strategy for more than a dozen geographically disparate, older-vintage communities that had been purchased in a sizable portfolio transaction before the pandemic. The Chicagoland portfolio featured three senior care campuses with a mix of 290 assisted living/memory care units and around 40 Medicare-only skilled nursing units. The assets opened between 1994 and 2000 and were geographically clustered in affluent Chicago suburbs.... Read More »Schedule a demo
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