Ararat Home buys Seniors Housing
Los Angeles-based Ararat Home is expanding its presence in Glendale, California with the acquisition of Windsor. The community comprises 73 independent living units in addition to accommodating 38 residents in its assisted living and 28 residents in its skilled nursing sections. Sitting on two acres and occupying a full city block, the community has easy access to Glendale’s services and shopping. With rent prices starting at $3,000 a month the community is equipped with amenities such as a fitness center, live theater, a pharmacy, 24-hour security and more.The seller of the property is the not-for-profit HumanGood. The Duarte, California-based organization currently holds a portfolio of... Read More »Lloyd Jones Announces Sixth Acquisition of 2022
Lloyd Jones Senior Living has been one of the most active acquirers of the year, so far, having just announced its sixth purchase in 2022. The recent target was Rittenhouse Village of Valparaiso, a 90-unit assisted living/memory care community built in 2009 in Valparaiso, Indiana. The historically profitable community was negatively impacted by the pandemic but started to rebound operationally. Blueprint Healthcare Real Estate Advisors’ Brooks Blackmon, Ryan Kelly and Connor Doherty were engaged by a publicly traded REIT to market and sell the community. The property appears on National Health Investors’ most recent property list, with Discovery Senior Living serving as the... Read More »Senwell Handles Senior Care Portfolio Sale in Ohio
Senwell Senior Investment Advisors has closed the sale of a skilled nursing/assisted living facility portfolio in Ohio consisting of four sites. The Ohio-based owner decided to sell the portfolio with intention of leaving the senior care sector and shifting its focus on its growing ancillary business (mainly hospice). The facilities were cash flowing, but a recent Medicaid rate increase across all facilities and a jump in occupancy due to a local SNF closing presented additional upside for a new owner. As such, six attractive offers were submitted, and the eventual buyer, a regional operator with several recent acquisitions in the state, purchased the portfolio at above asking price. The... Read More »Optalis Healthcare Moves Into Ohio
An Ohio-based senior care operator was looking to exit the skilled nursing business and sold a portfolio of five facilities while subleasing another two SNFs in the Columbus, Ohio market. The five facilities sold for a total of $81 million, or roughly $130,000 per bed/unit. Connor Doherty and Ryan Kelly of Blueprint Healthcare Real Estate Advisors handled the transaction. Since the start of operations in 1984, the seven facilities have consisted of roughly 750 dually certified skilled nursing beds and 200 senior housing units. And they historically operated near stabilized levels with consistent $70+ million of annual revenue, but performance drastically declined during the pandemic. Amid... Read More »CarePartners Acquires Bremerton, Washington Property
An established Seattle-based owner/operator of memory care communities emerged to acquire a 50-unit MC community in Bremerton, Washington whose national owner/operator seller had deemed it to be a strategic outlier. Previously operating as a skilled nursing facility, the building was completely gutted and renovated in 2016 to reopen as essentially a brand-new memory care community in 2017 with 62 beds in 50 units. Each unit has a private bathroom, and the building as a whole is in very good condition with Pacific Northwest design elements. However, it operated as a private pay community and consistently did not draw a high census, averaging around 66% in the last couple of years,... Read More »Schedule a demo
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