Blueprint Sells SavaSeniorCare SNF
Blueprint Healthcare Real Estate Advisors sold a 92-bed skilled nursing facility in Kenansville, North Carolina, to an experienced investor looking for growth opportunities for its operating partner in the Tar Heel State. Built in 1975, Kenansville Health and Rehab is located 75 miles southeast of Raleigh and adjacent to ECU Health Duplin Hospital. It had historically maintained stable census and cash flows, helped by the fact it had no direct local competition, but the facility saw census and margin decline after the pandemic. Blueprint was engaged by a longstanding ownership group, led by a distinguished Georgia-based entrepreneur and philanthropist, to effectuate the facility’s sale... Read More »
Marquee Capital Launches Second Fund, Targeting Seniors Housing
After successfully deploying the vast majority of capital from its inaugural fund, Marquee Capital announced that it is formally launching its second real estate fund, Marcus RE Fund II, LP, that will also include seniors housing in multiple geographies as well as opportunistic real estate plays with proven sponsors. The firm seeks to raise $100 million from other family offices, high-net-worth individuals, consultants, wealth managers and institutions. Marquee Capital recently rebranded from Berengaria Development, however the firm is still closely affiliated with Marcus Investments, the Marcus’ family office. Marquee Capital noted seniors housing’s stable cash flow and extreme... Read More »
Blake Parsons Acquires Carpinteria, California Community
Blueprint Healthcare Real Estate Advisors sold GranVida Senior Living, a senior living community located in Carpinteria, California. Initially built as an office building, the community was acquired and converted to assisted living in 2017. It now consists of 55 assisted living and 15 memory care units, with 77 total beds, in a high barrier-to-entry submarket of Santa Barbara. It also benefits from being the only seniors housing community within approximately 10 miles. Plus, there is an additional 1.81 acres adjacent to the site that is available for development of a second building with 50 units and 54 beds of assisted living. Blueprint ran a competitive marketing process for an... Read More »
LTC Sells Two Skilled Nursing Facilities
Westlake Village-based LTC Properties announced it has sold two skilled nursing facilities in the state of New Mexico for a purchase price of $21.3 million, or $90,600 per bed. The sale generated proceeds of $20.8 million, which will be used to pay down the company’s unsecured revolving line of credit. The two facilities were built in 1975 and 1985 and comprised a total of 235 beds. LTC provided a rent decrease of 7.5% of the net proceeds, or approximately $1.5 million in cash rent, to the in-place operator. The sale is part of LTC’s active asset management program, which aims to reduce the age of its portfolio and identify capital that can be better deployed through new... Read More »
Evans Senior Investments Sells Skilled Nursing Portfolio In Virginia
Evans Senior Investments announced it has arranged the sale of a skilled nursing portfolio in Virginia. The three-property portfolio sits on the shores of the Chesapeake in Virginia and comprises a total of 270 skilled nursing beds in addition to 50 assisted living units. Selling the portfolio was Hill Valley Healthcare for a purchase price of $59 million or $184,400 per bed. Two of the facilities were located in rural markets, but the portfolio was able to maintain an occupancy of 86% throughout the marketing process. Due to a strong Medicaid rate increase in July 2022, the portfolio also had strong levels of cash flow. Emerging as the buyer was an East Coast-based group that was looking... Read More »Schedule a demo
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