Family Owned/Operated Company Purchases in Ostego
A family owned and operated company based in Michigan bought an assisted living/memory care community in the Wolverine State. Built in 2016, the community is located in Otsego, Minnesota, about 40 miles south of Grand Rapids and 10 miles north of Kalamazoo. There were no major competitors in the local market that offered both AL and MC services on one campus. And the community was stabilized at the time of the sale. Daniel Geraghty, Bradley Clousing and Matthew Alley of Senior Living Investment Brokerage represented the seller, an owner/operator that focuses on states east of the Mississippi River. There were multiple qualified offers for the seller to review, and the deal closed... Read More »
Welltower Sells Vintage Park Portfolio
Midwest Health completed the largest acquisition in its nearly five-decade history, and in its home state of Kansas. The Topeka-based firm bought 15 assisted living communities with the help of its financial partner, Capitol Federal, a bank also headquartered in Topeka. The 15 communities were formerly under the Vintage Park brand and will now be branded as Homestead Assisted Living communities. Totaling approximately 600 units, they are located in Atchison, Baldwin City, Gardner, Hiawatha, Holton, Lenexa, Louisburg, Osage City, Osawatomie, Ottawa, Overland Park, Paola, Tonganoxie, Wamego and Wichita. On January 1, 2016, Welltower acquired 18 Vintage Park... Read More »
Well-Performing Facility Sells for Strong Price
A rare skilled nursing and behavioral health facility in Tucson, Arizona, sold for a strong price to a partnership between a regional healthcare equity investor and a national skilled nursing operator. Featuring 144 beds, the facility is licensed by the state for both medical and behavioral health services, being the only SNF in the Tucson area to be dedicated exclusively to behavioral healthcare. That helped contribute to its strong financial performance with healthy cash flow, as well as to investor interest in the listing. The facility also recently received capital enhancements. Henry “Hap” Knowles, Nick Stahler and Michael Mooney of The Knapp-Stahler Group at Marcus &... Read More »
Upstate NY Seniors Housing Community Trades
Kory Buzin and Steve Thomes of Blueprint facilitated the sale of a seniors housing community in upstate New York that stakeholders were divesting to take advantage of positive performance trends and a strong M&A market. The Legacy at Cranberry Landing, a 95-unit independent living, assisted living and memory care community in Rochester, was constructed in 2004 and fully renovated in 2015. The community is licensed to accept Enhanced Assisted Living Residents. It experienced recent occupancy increases. Multiple offers for the community were procured, with a growing regional owner based in the Northeast selected as the buyer. There were issues between LOI and closing, but Buzin and... Read More »
Seniors Housing Investment Vehicle Acquires First Asset
Focus Healthcare Partners acquired Bellingham at West Chester, a 274-unit seniors housing community in West Chester, Pennsylvania. The investment is Focus’ first for its newest investment vehicle, Focus Senior Housing Fund III. The property sits on an 11.8-acre site 20 miles west of downtown Philadelphia. It comprises 208 independent living, 50 assisted living and 16 memory care units. Also located on the campus is a historical site, Washington’s Tavern, built in the 1700s as a barn for a mill farm, which has now been repurposed to a dining and event space for residents. LCS manages the property. According to LevinPro LTC, the community was previously sold by Walton Street Capital and... Read More »Schedule a demo
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