Omega’s Q2:23 Results
Omega Healthcare Investors reported second quarter results on August 2 and announced a host of new investments totaling $270 million. In total, the company completed $129 million in real estate acquisitions, invested $124 million in real estate loans and other loans and investments and funded $17 million in capital renovation and construction-in-progress projects. Regarding Omega’s real estate acquisitions, the largest was Omega’s purchase of four skilled nursing facilities located in West Virginia for $114.8 million. The company leased the SNFs to an existing operator, and the facilities were added to that operator’s master lease with an initial annual cash yield of 9.5%, with 2.5% annual... Read More »
SLIB Sells a Memory Care Community
Senior Living Investment Brokerage was brought on to sell a memory care community in Oregon. The team included Jason Punzel, Brad Goodsell and Vince Viverito. Built in 2010 with an addition in 2013, the 30-unit/40-bed community is located in Portland, Oregon, on two acres of land with 16,300 square feet. The seller was a REIT that chose to divest its non-core, smaller assets. The buyer was a local owner/operator that plans to make capital improvement and focus on improving occupancy as well as operations. No other details were disclosed. Read More »
Meridian Capital Group Announces July Activity
Meridian Capital Group’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson, closed more than $520 million in transaction volume in July 2023. Their recent closings include a $175 million credit facility on behalf of a New York-based home health platform, which was provided by a nine-bank syndicate. Meridian’s Indrajit Pal and Matt Lesnik negotiated this transaction along with Adlerstein and Simpson. Additionally, the team sold nine skilled nursing facilities comprising 718 beds in the Midwest and arranged $66.6 million in financing from a commercial bank along with a $10 million A/R line for the acquisition. The team also arranged a $49 million HUD refinance... Read More »
REIT Divests Small Memory Care Asset
A REIT divested a small, non-core asset in Portland, Oregon, hiring Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage to close the deal. The community, which features 40 beds and 30 units of memory care, was built in 2010 and expanded in 2013. The REIT bought the property in the mid-2010s but decided to sell to a local owner/operator. The buyer will focus on capital improvements as well as improving occupancy and operations. No other details were disclosed. Read More »
Alta Senior Living Expands in South Florida
Alta Senior Living acquired Palm Beach Memory Care, a newly built memory care community located in North Palm Beach. Around 20% of its 60 units were already pre-leased when the community opened. Dan Baker of JLL arranged the sale, but no other details were disclosed. Alta’s portfolio is spread across the country, with locations in Colorado, California, Minnesota and Florida. Its regional headquarters is located near the new Palm Beach community and two other South Florida communities in Tequesta and Margate. Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
