• The Vaccine and Census

    The COVID-19 vaccine was supposed to solve the census crisis brought on by the virus, but it is not happening fast enough. Optimism still exists, however. A lot has been riding on the success of the vaccine rollout, for everyone personally as well as for the entire senior care industry. But I am worried. When I hear that certain areas are running... Read More »
  • Senior Living Investment Brokerage Closes Rocky Mountain Transaction

    An institutional owner engaged Brad Clousing, Jason Punzel and Jeff Binder of Senior Living Investment Brokerage to sell two senior living communities in two western states. Totaling a combined 107 units, split between 61 independent living and 46 assisted living units, the deal included a community built in 1995 in Cody, Wyoming and... Read More »
  • Marcus & Millichap Duo Sell Tucson Community

    Alex Snyder and Hamid Panahi of Marcus & Millichap’s Tucson, Arizona office didn’t have to go far for their latest seniors housing deal, selling an 80-unit assisted living community in their hometown of Tucson. They represented both the merchant developer seller and regional owner/operator buyer (both also based in Tucson), the latter of... Read More »
  • Northmarq Refinances Washington State Seniors Housing

    Northmarq’s Stuart Oswald, senior vice president and managing director of the firm’s Seattle office, arranged a $35 million refinance of a 136-unit senior living community in Tacoma, Washington. Built in phases from the 1980s to the 1990s, the community provides independent living, assisted living and memory care services in a combination of... Read More »
  • JLL Announces Seniors Housing Portfolio Deal

    The JLL team got off to a prolific start this January, already handling a couple of transactions across 17 seniors housing properties. The big one involved the sale of 16 seniors housing communities previously owned by a publicly traded REIT. Totaling more than 1,800 units, these communities were located in three states and consisted of... Read More »
Giannini Closes Green Bay Sale

Giannini Closes Green Bay Sale

Ray Giannini and Aaron Thompson of Marcus & Millichap arranged the sale of a 50-unit assisted living/memory care community in Green Bay, Wisconsin. Contrary to many seniors housing communities today, this property was fully occupied, with a 100% private pay census at the time of closing. It also reported strong cash flow and was relatively new construction, having been built in phases from 2009 to 2019.   The husband-and-wife seller had a lot to do with that strong performance, working diligently to maintain census and keep the community COVID-free throughout the year. They will be exiting the industry with this sale, which came at a price of $9.2 million, or $184,000 per unit. An... Read More »
Grandbridge Arranges Two Seniors Housing Sales

Grandbridge Arranges Two Seniors Housing Sales

Not long after making the move from Cushman & Wakefield to Grandbridge Real Estate Capital, the Tampa-based team of Allen McMurtry, Dave Kliewer and Jay Jordan announced a couple of seniors housing sales. First, they were tapped by the owner of an independent living/assisted living community near Springfield, Massachusetts to run a bankruptcy sale process.   Built in the 1990s with 187 units of independent living and assisted living, including 129 cottages, the community was around 65% occupied. With a stalking horse bid of $9.0 million, the virtual live auction in late September 2020 resulted in more than 100 rounds of live bidding, with a final sale... Read More »
Colliers International Announces Florida Portfolio Deal

Colliers International Announces Florida Portfolio Deal

Damien and Ken Carriero of Colliers International kicked off their 2021 campaign with the sale of three assisted living communities totaling 180 units and 313 beds in Florida. Previously owned by Florida Seniors Properties, Inc., these communities are located in Port Richey, Casselberry and Zephyrhills, with an average occupancy of just 66%.   Best Care Senior Living, LLC purchased the Port Richey property, while another ownership entity bought the other two communities. Colliers simultaneously closed the transactions on January 12. The combined purchase price was $13.7 million, or $76,100 per unit.    Read More »
Plains Commercial Sells Oklahoma SNF

Plains Commercial Sells Oklahoma SNF

Daniel Morris, formerly of CBRE but now Founding Partner of Plains Commercial Real Estate in charge of seniors housing investment sales and leasing, has arranged the sale of a small skilled nursing facility in Fairland, Oklahoma. Featuring 29 beds, the facility was built in the mid-1960s with a small footprint of just about 6,400 square feet. It was operating just around breakeven, and occupancy was historically close to 70%. In addition, the operator was able to keep the facility COVID-free throughout the pandemic.   This was the only facility of the long-term owner/operator seller, who bought the property in 2011 for $561,000, or $19,300 per bed, according... Read More »
Lessons Learned From 2020 & Looking to the Future: An Interview with Ryan Saul

Lessons Learned From 2020 & Looking to the Future: An Interview with Ryan Saul

Ben Swett, Editor of The SeniorCare Investor, sat down (virtually) with Ryan Saul of Senior Living Investment Brokerage to discuss what happened in 2020 for senior care M&A. What facilities were popular targets, how prevalent was price discounting, how did federal stimulus keep many owners on the sales sidelines? Mr. Saul also shared his thoughts on what we may be facing in 2021. Read More »
Trustwell Living Getting Started

Trustwell Living Getting Started

Earlier this week, Larry Cohen announced the formation of his new company, Trustwell Living, LLC. As most of you know, Larry was the CEO of Capital Senior Living (CSU) for about 20 years. What you may not know is that he was very popular with his team, from EDs to the C-suite. It looks like those relationships have held, as several former CSU employees are putting their trust in Larry and joining forces once again.  This includes Greg Boemer, who spent 15 years at CSU, the last four as VP of Operations, who will be SVP of Operations. Then there is Colleen Honnors who was with the company from 2013 to 2020 as National Quality and Clinical Director, and... Read More »