• Interview with Scott Tittle of VIUM Capital

    The SeniorCare Investor Editor Ben Swett sits down with VIUM Capital’s Head of Government Relations and External Affairs to discuss the latest round of provider relief, its potential effects on the M&A market, and the scrutiny of private equity... Read More »
  • SLIB Handles Sale of Florida Community

    Senior Living Investment Brokerage’s Bradley Clousing and Daniel Geraghty handled the sale of a 64-unit assisted living and memory care community in Pace, Florida. The community opened in December 2019 and immediately faced the challenges of Covid-19. Nonetheless, the property achieved stabilized occupancy in less than a year. The seller was a... Read More »
  • Ziegler Arranges Two More Financings

    Ziegler has closed two financings for communities in Wisconsin and Virginia. First, Ziegler arranged $38.68 million of Series 2021 fixed-rate revenue bonds for the construction of a new seniors housing community in Muskego, Wisconsin. The financing was provided to PHW Muskego, Inc., a not-for-profit affiliate of Presbyterian Homes and Services.... Read More »
  • OHI Sells Two Michigan Properties

    Omega Healthcare Investors divested a couple of small assisted living communities in the state of Michigan, hiring Michael Segal and Ben Firestone of Blueprint Healthcare Real Estate Advisors to handle the sale. Built in the late 1980s and 1990s with renovations in the early 2000s, the communities are located in Marshall and Mt. Pleasant,... Read More »
  • Occupancy Growth Slowing?

    Historically, the third quarter is always the best quarter for census growth, and it has generally been a good quarter for most senior living providers. But September has seen a bit of a slowdown, which does not bode well for the fourth quarter. The summer jump in COVID cases may have something to do with it, but also adapting to an influx of new... Read More »
Eclipse Senior Living Is Closing

Eclipse Senior Living Is Closing

Eclipse Senior Living will soon be no more, as the company, which was founded in 2017, stated that it plans to permanently shut down its operation, effective (if it goes according to plan) by the end of the first quarter of 2022. Ventas owns a 34% stake in the company and announced that it plans to transition the operations of its 90 communities managed by Eclipse to other providers. In perhaps another way of saying “good riddance,” the REIT stated that the communities “were not contributors to [Ventas’] overall NOI or its SHOP NOI in the second quarter 2021.” Ventas expects to incur certain one-time transition costs as it moves the communities to eight new operators.  This will end... Read More »
SLIB Handles Sale of Three Communities

SLIB Handles Sale of Three Communities

Senior Living Investment Brokerage facilitated two sales at the end of September in Missouri and Kansas.  The first, handled by Jack Kemper and Jeff Binder, is for the sale of two sister residential care (assisted living) properties in Kennett, Missouri for $7.5 million. The two communities were fully occupied in 2020, with The Haven participating in the Department of Mental Health network of facilities, allowing it to always maintain nearly-full census. The Haven was built in 2011, while its affordable sister property Southaven, was constructed in 2005.  The communities contain a total of 100 beds across 31,500 square feet, with the price-per-bed coming to $75,000. Combined revenues... Read More »
The Ensign Group Acquires Operations of Three Facilities

The Ensign Group Acquires Operations of Three Facilities

The Ensign Group will assume the operations of three skilled nursing facilities across Texas and Idaho. The facilities include the 98-bed River Pointe of Trinity Healthcare and Rehabilitation Center in Trinity, Texas, the 150-bed Park Village Healthcare and Rehabilitation in De Soto, Texas, and Skyline Transitional Care Center, an 80-bed facility in Boise, Idaho. The acquisitions are subject to a long-term, triple net lease. Plus, the deal brings Ensign’s growing portfolio to 245 healthcare operations, 22 of which also include senior living operations, across thirteen states. Read More »
SLIB Facilitates Sale in New York

SLIB Facilitates Sale in New York

An assisted living community also enrolled in New York State’s ALP program changed hands from one owner/operator to another, with Patrick Burke and Dave Balow of Senior Living Investment Brokerage handling the deal. Built in 1988 and 1998 in upstate New York, the community features 76 licensed beds in 46 units, with 25 of the beds in the ALP program, which is a Medicaid program that provides high-acuity, skilled nursing care in a lower-cost setting.  Historically well occupied above 90%, the community had been able to keep COVID out for most of 2020 but unfortunately had an outbreak at the end of the year. Occupancy and revenues dipped, but the seller was able to get COVID out and improve... Read More »
SLIB Assists on REIT Divestment From Indiana Community

SLIB Assists on REIT Divestment From Indiana Community

A REIT divested an underperforming outlier from its portfolio with the help of Brad Clousing and Ryan Saul of Senior Living Investment Brokerage. Located in Fort Wayne, Indiana, the 120-unit community was purpose-built for independent living in 1997. However, it was deemed to be non-core by the REIT owner, and a private regional owner with extensive experience in Indiana saw an opportunity to convert the community to a higher-acuity, all-Medicaid facility. The transaction closed in 30 days from start to finish, with no purchase price disclosed.  Read More »
DHC Transitions Seven More Five Star Properties

DHC Transitions Seven More Five Star Properties

Diversified Healthcare Trust is nearing the complete transition of its operations away from Five Star Senior Living, agreeing to add five assisted living communities in Wisconsin to an existing management agreement with Cedarhurst Senior Living, and two AL communities in Pennsylvania to a new agreement with IntegraCare. The Wisconsin communities total 300 units, while the two Pennsylvania communities have a combined 182 units. Cedarhurst had previously taken over eight properties totaling 486 units in Illinois on behalf of the REIT.  Diversified Healthcare Trust originally had 108 communities in its Five Star portfolio, and is now left with about 10.... Read More »