Blueprint Closes High-Priced SNF Sale in Florida
Blueprint Healthcare Real Estate Advisors made its mark at the NIC Fall Conference with three transaction announcements revealed while the industry descended on D.C. First, Blueprint closed the sale of a skilled nursing facility in Florida. Southern Oaks Care Center of Pensacola, Florida is a 210-bed facility that rebounded to pre-pandemic occupancy of 91% with over $4.0 million in annualized trailing EBITDAR, generating a 21.0% operating margin. Plus, Southern Oaks was slated to benefit from the upcoming Medicaid reimbursement rate increase, so there is still room for growth. A cash-flowing SNF is a hot commodity right now, and a competitive bidding process saw an out-of-state partnership... Read More »Evans Senior Investments Sells in Indiana
Amid a spate of September transactions, Evans Senior Investments announced the sale of a 100-bed skilled nursing facility in Indiana. The team worked on behalf of the seller, a regional owner/operator, to market the facility and showcase the potential for additional revenue with the facility’s recently renegotiated UPL contract with a local hospital. At the time of marketing, the facility posted $10.2 million in total revenue with an above-average operating margin of over 30%, and it was 71% occupied. On the other hand, there was a significant Medicaid rate decrease from the July 2022 Medicaid rates released by the state of Indiana, so not all will be rosy going forward. But that operating... Read More »Knapp-Stahler Group Closes Oregon Transaction
Nick Stahler and Michael Mooney of The Knapp-Stahler Group of Marcus and Millichap sold a37-unit residential care facility in Oregon that specializes in traumatic brain injuries and other cognitive disorders. The property sold for $9.25 million or $250,000 per unit. It maintained strong occupancy and financial performance throughout the pandemic. Plus, the regional owner/operator buyer which has a presence in the state sees upside in revenues and margin, which we imagine helped the deal pencil out for them. The sellers developed and operated the facility over the past 20 years and were able to secure multiple offers on the property. Read More »Lloyd Jones Gets Bigger in Texas
Lloyd Jones continues to march across the country acquiring senior living communities that have included trophy properties and value-add opportunities, alike. The investment firm just bought a 75-unit senior living community in Granbury, Texas (Dallas-Fort Worth MSA) from Living Care Lifestyles for an undisclosed amount. JLL Capital Markets’ Charles Bissell and Dean Ferris represented the seller in the transaction. Quail Park of Granbury consists of 41 independent living, 15 assisted living and 19 memory care units across a 30-acre campus. On the property, there are also 20 acres available for future development, which was appealing to Lloyd Jones. At the time of closing, the community was... Read More »The Prestige Group Announces Assisted Living Sale
The Prestige Group announced the sale of an assisted living community in Georgetown County, South Carolina. The 48-unit community sits on 8.2 acres just north of Charleston, and just south of Myrtle Beach. Joe Shallow and Richard Natow handled the transaction. Both the seller and buyer of the community were not disclosed. Read More »Schedule a demo
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