Recent Senior Care M&A Deal Chart, Week Ending October 15, 2020

Recent Senior Care M&A Deal Chart, Week Ending October 15, 2020

The fourth quarter M&A blitz continues with a number of new deal announcements. Check out our latest senior care M&A chart. Long-Term Care   AcquirerTargetPrice Taurus Investment Holdings and Northbridge Asset Management6 seniors housing communities in Boston, MA area$200 million Regional groupRoseleaf Portfolio$14.6 million Southeast-based owner/operatorTranquility of DaltonN/A Northeast-based owner/operatorTranquility of CartersvilleN/A CiminoCareAssisted living community in Stockton, CA$3... Read More »
Ventas Buys Big

Ventas Buys Big

Ventas announced one of its largest acquisitions in a while, a billion-dollar deal. Unfortunately, it is not in seniors housing. And we probably will not see a billion-dollar deal in seniors housing this year.  The Ventas Life Science and Healthcare Real Estate Fund bought a “trophy” life science portfolio in the South San Francisco life science cluster for $1.0 billion. The portfolio consists of a campus of three newly developed or renovated buildings totaling nearly 800,000 square feet that are 96% leased. For the quantitatively challenged, that comes to $1,250 per square foot, which is much more expensive than any seniors housing portfolio that has sold. The tenant... Read More »
SLIB Closes Another Southeast Sale

SLIB Closes Another Southeast Sale

A senior living community in Dahlonega, Georgia that managed to stay fully occupied throughout the pandemic found a new owner thanks to Brad Clousing and Daniel Geraghty of Senior Living Investment Brokerage. Consisting of 58 assisted living and 14 memory care units, the community was completed in September 2019 with high-end finishes and amenities. Because lease-up went so well (six months to a waitlist is pretty darn good), there is also the opportunity to expand, with 20 shovel-ready units to add on a rough graded pad with stubbed utilities.   The seller was a local owner/operator who was looking to divest the community and exit the industry altogether. A not-for-profit owner/operator... Read More »
Real Estate Investment Group Acquires Northern California Seniors Housing Portfolio

Real Estate Investment Group Acquires Northern California Seniors Housing Portfolio

M&A has been especially active in the first two weeks of the fourth quarter. It seems a dam, of sorts, of delayed deals had broken. There are certainly many more deals still in limbo or terminated altogether because of the pandemic, but it is an encouraging sign to see this level of deal-making considering the circumstances.  One highlight of the activity was the sale of three seniors housing communities in the Northern Sacramento Valley in California, handled by Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage. The deal includes two properties in Chico and one in Oroville, with a total of 85 memory care units and 131 beds.   Built... Read More »
Reis Handles Stockton, California Closing

Reis Handles Stockton, California Closing

Another small, local owner is exiting the senior care business, with the sale of its assisted living community in Stockton, California. Rob Reis of Marcus & Millichap represented them in the transaction and found a small, regional owner/operator to acquire the property.  Featuring 87 units and 96 licensed beds, the community was 78% occupied at the start of negotiations. Plus, the community was producing about $220,000 in NOI on gross revenues of $1.8 million. In addition to improving the operating margin, there is upside in taking care of deferred maintenance and adding more care services. The final purchase price leaves room for adding value, with the regional owner/operator paying... Read More »
Local Owner in Georgia Exits Senior Care Market

Local Owner in Georgia Exits Senior Care Market

Two Senior Living Investment Brokerage teams facilitated an owner’s exit of the senior care industry with the sale of two assisted living communities in Georgia to two different buyers. First, the local owner/operator sold its small community in Cartersville, northeast of Atlanta.   Built during the last assisted living construction boom in the early-2000s, the 25-unit community was renovated in 2015. Since then, it has remained well occupied exceeding 90%. A Northeast-based owner/operator looking to expand its portfolio in the Peach State paid an undisclosed sum for the community.  The other transaction saw a 58-unit community in Dalton (northeast corner of Georgia) sell to an... Read More »