Three Deals Close in Three States
Senior Living Investment Brokerage came out with a flurry of closings this week, spread across the country in Minnesota, Utah and New York. Jake Anderson and Ryan Saul first sold a 72-unit seniors housing community in Orono, Minnesota. Featuring a mix of independent living, assisted living and memory care units, the community was the sole seniors housing project developed by a group of local investors. It was 85% occupied at the time of marketing and operating at a 27% margin on $4.28 million of revenues. Operations improved throughout the process, as well. Vincent Companies revealed itself to be the buyer of Stonebay of Orono and will rename the community Valora Senior... Read More »
ESI Handles Ensign Acquisition
In one of the three acquisitions most recently announced by The Ensign Group, Evans Senior Investments served as the seller’s advisor, securing a capital buyer for the real estate and facilitating the new lease with Ensign. That deal included two skilled nursing facilities in the Denver, Colorado MSA, Edgewater Health and Rehabilitation in Lakewood with 69 beds and The Rehabilitation Center at Sandalwood in Wheatridge with 103 beds, which total 172 beds. While both facilities were performing well at the time of sale, ESI highlighted the opportunity for a new operator to drive further value by growing the post-acute census and reducing operating expenses... Read More »
SLIB Closes North Carolina and Florida Deals
The closings keep on coming from Senior Living Investment Brokerage. Brad Clousing, Dan Geraghty and Patrick Burke first facilitated the sale of a 137-unit independent living/assisted living community in Fayetteville, North Carolina. Built in 1981 and 1998, with a renovation in 2021, the community was being divested in order for the seller to focus on communities in its current footprint. Unbridled Living, a regional owner/operator based in Kentucky, made the purchase, which is its third acquisition completed this year. Unbridled revealed that the community was previously known as Heritage Place of Fayetteville and will be rebranded Unbridled Living of Fayetteville. It made the... Read More »
Journey Healthcare Acquires From Selectis Health
Selectis Health, formerly known as Global Healthcare REIT, sold two skilled nursing facilities in Georgia. The deal included the 71-bed Providence of Sparta Health & Rehab in Sparta and the 110-bed Warrenton Health & Rehabilitation in Warrenton, which had been owned by Selectis/GHR since 2013, according to LevinPro LTC. Selectis announced that the facilities sold for a combined $13.175 million, or $72,800 per bed. The deal is expected to close on February 1, 2026. According to the purchase and sale agreement, the buyers are entities linked to Bernie McGuinness, the founder of Journey Healthcare. Founded in 2024, Journey operates skilled nursing facilities... Read More »
Several HUD and Acquisition Financings Close
Ikaria Capital Group has had a prolific Fall and revealed several recent transactions. The largest was a $115.5 million HUD refinance for four skilled nursing facilities in Georgia. Derek Whelan originated the loans on behalf of Empire Care Centers and The Portopiccolo Group, which used the proceeds to refinance a proprietary bridge loan structured by the Ikaria team in 2022. Whelan was also joined by Rodger Davis to close a $44.5 million HUD refinance in the Midwest. Wrapping up the HUD activity, Ross Holland originated a $10.9 million loan in the Pacific Northwest on behalf of a new client. Lastly, there were a couple of acquisition loans. First, Davis... Read More »Schedule a demo
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