Goodman Group Acquires Minnesota Asset
The Goodman Group announced an acquisition of a seniors housing community in its home state of Minnesota. The deal comes about six months after Kevin Carden joined the firm to lead its seniors housing and multifamily acquisition and development arm with Michael Leonard. Carden previously held roles at Greene Park Capital, REDICO, Ziegler and Classic Residence by Hyatt. Goodman executed on a 1031 exchange, trading out a multifamily property for a 97-unit assisted living/memory care community in Eagan, Minnesota (Minneapolis MSA). The institutional-quality asset was built in 2017 by a local developer, which had Ebenzer as the property’s manager. Operations were strong, with nearly full... Read More »
CareTrust Makes Two Acquisitions in California
CareTrust REIT announced two separate acquisitions in California with a total investment amount of approximately $55 million. The investments were funded using cash on hand. First, the REIT acquired a skilled nursing and assisted living campus in Los Alamitos, California. The campus includes a 150-bed skilled nursing facility (Alamitos West Health and Rehabilitation) and a 68-unit/140-bed RCFE (Katella Senior Living Community). CareTrust’s acquisition of the campus was completed through a joint venture with a third-party healthcare real estate owner. At closing, CareTrust provided a combined common equity and preferred equity investment totaling approximately $24 million at an... Read More »
Evans Handles Wisconsin SNF Deal
Evans Senior Investments represented an institutional owner/operator in the divestment of a skilled nursing facility in Wisconsin. The facility was an outlier in the seller’s portfolio and struggled to improve its occupancy since the pandemic. A growing regional operator acquired the property as a complement to its existing footprint in the state. Their presence could help with the census turnaround. Wisconsin’s recently increased Medicaid reimbursement rates and certificate of need program will also help. Read More »
Diversicare Expands in Tennessee and Enters North Carolina
Diversicare Healthcare Services completed the acquisition of three skilled nursing facilities in Tennessee (2) and North Carolina. This acquisition brings the company’s total number of facilities to 49 and marks its entrance into North Carolina. Built in 1980, Etowah Health & Rehabilitation Center, formerly known as Etowah Health Care Center, is in Etowah, Tennessee, with 120 beds. Built in 1999, Diversicare of Copper Basin, formerly known as Copper Basin Health and Rehabilitation, is in Ducktown, Tennessee, with 135 beds. The facility closed in 2017, and was vacant at the time of sale. Built in 1979, Mountain View of Bryson City, formerly known as Mountain View Manor Nursing... Read More »
SLIB Closes Transaction Trio
Senior Living Investment Brokerage shot out of the gates in the second quarter, announcing three closings for skilled nursing facilities across the country. First was the sale of a 105-bed SNF in Pueblo, Colorado, which was previously owned by an East Coast-based regional owner/operator that was divesting the asset to focus on its core markets. Built in 1964 with renovations and expansions in 1982, 2008 and 2018, the facility was licensed for 120 beds. Dubbed Prestige Care Center of Pueblo, the facility received several offers from buyers before a California-based owner/operator with an established presence in Colorado was selected. Vince Viverito and Nick Cacciabando handled the... Read More »Schedule a demo
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