United Church Homes Acquires Port Clinton Community
In scenic Port Clinton, Ohio, a senior care campus sold to a not-for-profit organization as part of the seller’s strategic move to redeploy capital and resources to other assets across the state. Set on 57 acres, Vineyard on Catawba was owned and operated by Ohio Living, one of the country’s largest not-for-profit providers with 11 CCRCs in the state. The community was built in stages to now include a 40-unit low-income apartment complex, 12 assisted living units and 10 independent living condos. It was nearly fully occupied. United Church Homes bought the community, taking over operations effective November 1. It is renaming the asset The Parkvue Community on Catawba Island, similar to... Read More »
Chicago Investor Buys Three Indiana Communities
Three late-1990s-era assisted living communities sold in Indiana with the help of Connor Doherty, Ryan Kelly, Amy Sitzman and Giancarlo Riso of Blueprint. Located in Elkhart, Kokomo and Madison, the communities historically struggled operationally and were on the smaller side, with approximately 40 units at each property. Based on their size and locations, these appear to be Enlivant-owned and operated communities. Blueprint approached qualified buyers in the region and generated multiple competitive offers for the portfolio. The selected buyer, a private investor based in Chicago, plans to reposition the assets by utilizing the Indiana Assisted Living Waiver Program, which recently... Read More »
Massive Menorah Park Selling in Cleveland
A massive, not-for-profit senior care campus in Beachwood, Ohio (Cleveland MSA), is set to sell to a New Jersey-based group before the end of the year. Menorah Park, which was founded in 1906 and moved to its current location in 1968, had been struggling operationally in the wake of the pandemic, higher staffing costs, changes in government funding and the competitive environment. That prompted the board to review its strategic options and a potential sale, and Connor Doherty, Ryan Kelly, Michael Segal and Ben Firestone of Blueprint were brought in to run the process. The 355-bed Menorah Park Nursing Home was built in stages between 1968 and 2015, which was followed by a 193-unit... Read More »
Walker & Dunlop Handles Three Deals
A large seniors housing community in Schererville, Indiana (Chicagoland), saw seven bidders on the asset before a joint venture paying all cash emerged as the buyer. Walker & Dunlop Investment Sales ran a competitive process, with multiple bidding rounds, on behalf of the sellers: Harrison Street, Ryan Companies and Life Care Services (LCS). Ryan Companies and LCS developed the community in 2015 at a cost of $40 million, or $226,000 per unit. It features 177 units and 180 beds of independent living, assisted living and memory care. The stabilized asset’s occupancy was above 90% and had a strong profit margin. The buyer was a joint venture between an undisclosed capital source and... Read More »
Massachusetts SNF Changes Hands and Purpose
Blueprint facilitated the sale of a skilled nursing facility in the Boston, Massachusetts area. The facility was constructed in 1960 and was well maintained. It comprises 53 beds across over 18,000 square feet. Kyle Hallion and Michael Segal of Blueprint handled this transaction, which closed within 60 days of the marketing launch. The ultimate buyer was a family owner/operator that intends to repurpose the property to multifamily. Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
