In-Place Tenant Acquires Colorado SNF
A dually-certified skilled nursing facility located in between Denver and Colorado Springs sold to its existing operator/tenant, with Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors handling the transactions. The 1970s-built facility benefitted from its experienced Colorado SNF operator which was brought in by ownership in 2016 under a triple-net lease structure. Originally, an out-of-state buyer submitted a compelling offer looking to make a strategic acquisition in the state but ultimately decided to withdraw. This allowed the existing tenant to exercise its purchase option at a previously agreed-upon price. The tenant had originally planned to assume the... Read More »
Buyer Enters SNF Market with Ohio Acquisition
Evans Senior Investments arranged the sale of a 99-bed skilled nursing facility in Ohio. Built in phases from 1946 through 1985, the facility received two significant renovations in 2013 and 2019. It comprises 47 private rooms and 26 semi private rooms and was 70% occupied at the time of marketing. The high number of private rooms meant that the facility operated with an above-average quality mix, but it was operating around breakeven. This was the buyer’s first skilled nursing acquisition, although it was involved in the operations for a regional owner/operator for years. Read More »
CBRE Sells Active Adult Portfolio in Three States
A couple of institutional investors traded a portfolio of four active adult communities in three states. All recently built and boasting occupancy above 95%, these communities total 481 units in three MSAs: Pittsburgh, Pennsylvania, Louisville, Kentucky, and Indianapolis, Indiana. Each community also featured on-site beauty salons/barber shops, fitness centers, community family rooms with kitchens, and numerous amenities. CBRE’s Indianapolis Multifamily team consisting of Steve LaMotte and Dane Wilson, CBRE’s Pittsburgh Multifamily team consisting of Laura Lawrence, and CBRE’s National Senior Housing team members John L. Sweeny, Jr., Aron Will, Garrett Sacco and Scott Bray represented the... Read More »
Carnegie Capital Finances Texas Transaction
JD Stettin of Carnegie Capital helped a private, Atlanta-based fund acquire a portfolio of nine skilled nursing facilities in Texas by arranging an $87.5 million bridge loan to fund the deal. Totaling 1,050 beds, the facilities were on average around 25 years old, with decent occupancy ranging from the high-70s to the low-80s. The facilities were also enrolled in QIPP and UPL, making the portfolio much more attractive to a potential buyer. That interested party was an Atlanta-based company that owns more than 30 SNFs in four states, which will bring in one of the largest operators in Texas to operate the facilities going forward. They paid $100 million, or $95,200 per bed, and the... Read More »Oklahoma SNF Sells to Regional Operator
Plains Commercial announced the sale of Hobart Living Center, a skilled nursing facility in Hobart, Oklahoma (Oklahoma City MSA). Built in the 1960s, the facility comprises 58 beds and sits on 3.7 acres. The seller is an Oklahoma-based operator that was looking to downsize its portfolio. The facility was sold to a regional operator with a geographic footprint in the area that was looking to grow. Daniel Morris of Plains Commercial handled the transaction. In April 2022, Mr. Morris sold three skilled nursing facilities in Tulsa and Cushing, Oklahoma that consisted of 243 licensed beds. That seller was a local operator looking to exit the industry, while the buyer ended up being one of the... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
