Blueprint Handles Virginia Portfolio Deal
Blueprint Healthcare Real Estate Advisors handled the sale of five seniors housing communities comprising 250 units along the Blue Ridge Mountains of Virginia. CareTrust REIT announced that it had sold the portfolio earlier in January. Three of the assets were built between 1997 and 2002, one was built in the early 1980s, and the last is a historic landmark dating back to 1916. They sold for $13 million, or $54,000 per bed. Each of the five communities struggled during the pandemic and were underperforming, which presented an opportunity for an operator to acquire and grow the census back to previously stabilized levels. In a competitive sale process which yielded multiple offers, the... Read More »
Plains Commercial Announces Oklahoma Transaction
Plains Commercial Real Estate sold Monroe Manor in Jay, Oklahoma. Built in the 1960s and expanded in the early 1990s, the skilled nursing facility is licensed for 98 beds. Its Oklahoma-based operator was looking to exit the industry and retire. The buyer ended up being an Illinois-based owner/operator that had previously operated in Oklahoma but was looking to re-enter the state. Before the CON transfer, the buyer and seller agreed to have the buyer operate the facility before the transaction closed. The sale also involved a unique HUD deed restriction which required collaboration between the parties in order to complete the transaction. Daniel Morris of Plains Commercial... Read More »
Beverly Hills SNF Sells
Blueprint Healthcare Real Estate Advisors announced the sale of a skilled nursing facility in Los Angeles, California. Built in 1997, The Rehabilitation Centre of Beverly Hills comprises 150 Medicare beds and is located near the prestigious hospital of Cedars-Sinai Medical Center. It also received many referrals from the hospital. There was an active bidding process, and a Los Angeles-based family office ultimately sold the asset to a private, high-net-worth owner/operator based in Los Angeles. The seller also negotiated a short-term lease for the facility until it identified an exchange property. Jacob Gehl, Humair Sabir and Scott Frazier of Blueprint Healthcare Real Estate Advisors... Read More »
CBRE Does Double Duty on Two Transactions
The CBRE National Senior Housing Investment Properties team completed the sale of two Class-A communities in the last couple of weeks of December. Not only that, CBRE’s Debt & Structured Finance team helped finance both transactions. First, CBRE’s John Sweeny, Aron Will, Garrett Sacco and Scott Bray represented Harrison Street and Bridgewood Property Company in the joint venture’s sale of The Village at River Oaks in Houston, Texas. Opened in 2017, the mid-rise community features 198 units of independent living, assisted living and memory care. CBRE had been involved with the property since arranging development financing for it in 2015. In August 2019, the firm then refinanced that... Read More »
Strawberry Fields REIT Buys Kentucky SNF
South Bend, Indiana-based Strawberry Fields REIT announced it has acquired a skilled nursing facility in Jackson, Kentucky. Built in 1971 and renovated in 2021, the Nim Henson Geriatric Center comprises 120 beds and sits on just under three acres in eastern Kentucky. It is the only SNF in Breathitt County and offers a range of services. In addition, it is situated close to the Kentucky River Medical Center, a small regional acute hospital. As part of the transaction, the facility was added to the Landmark master lease, joining a network of other Landmark SNFs and LTACHs operated by A&M Healthcare Investments in Kentucky, Texas, Oklahoma, Illinois, and Michigan. A&M has been a... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
