Blueprint Advises SNF Portfolio Sale in Ohio
Blueprint Healthcare Real Estate Advisors’ Connor Doherty, Ryan Kelly and Christopher Hyldahl represented the seller of a five-facility skilled nursing portfolio. Located in northwest Ohio with one facility located southeast of Columbus, the facilities were constructed throughout the 1980s and 1990s. The private equity seller chose to strategically exit the facilities after purchasing them as part of a larger portfolio transaction in 2017. Their operating partner will also be exiting the portfolio. The facilities have struggled with occupancy recently but were ultimately purchased by an Ohio-based regional owner/operator looking to capitalize on the previously announced Ohio Medicaid rate... Read More »
Cushman & Wakefield Arranges Recap in Arizona
Cushman & Wakefield has arranged the recapitalization of Acoya Mesa, a seniors housing community in the Mesa suburb of Phoenix, Arizona. Developed in 2019 by Ryan Companies and Cadence Living, ACOYA Mesa is a 170-unit independent living, assisted living, and memory care community. Despite divesting the community, Ryan and Cadence Living will continue operating it. The property, which was sold by EverWest Real Estate Investors, was acquired by a global real estate investment manager for $46.25 million, or $272,100 per unit. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Jack Griffin represented the seller and procured the buyer. The team also... Read More »
H2C Advises Joint Venture in Illinois
At the end of 2021, H2C represented the joint venture of Randall Residence and CREC to sell a 107-unit senior living community in Decatur, Illinois. Built in 1999 and 2001, the community consists of two buildings, a two-story, 50-unit independent living building and a single-story, 57-unit assisted living/memory care community, that were 98% occupied at the time of sale. The existing operator, Randall Residence, acquired the community for $15.5 million, or $144,900 per unit, at a 6.25% cap rate. The community last sold in March 2017 for $11.155 million, or $101,400 per unit, at a 7.5% cap rate. At the time, occupancy was 72%, so, it looks like operations have been improved in the... Read More »
Tryko Grows Garden State Portfolio
Tryko Partners added to its New Jersey portfolio with the acquisition of one skilled nursing facility and one assisted living/memory care community in Little Egg Harbor on the Jersey Shore. Owned and operated by a husband-and-wife team for more than 30 years, the properties will receive immediate capital improvements under the new ownership. Built in 1985, Seacrest Village is a 171-bed, three-story skilled nursing facility that carries a five-star designation with CMS. It will be renamed The Terraces at Seacrest Village. The Terraces, built in 2013, is a two-story assisted living/memory care community with 88 units. Tryko’s affiliate Marquis Health Consulting Services will take over... Read More »
Blueprint Facilitates AL Sale in Florida
Ben Firestone, Lauren Nagel and Michael Segal at Blueprint Healthcare Real Estate Advisors recently facilitated the sale of a Jupiter, Florida-based senior living community. Built in 2001, Village of Tequesta, Tequesta Terrace is a 100-unit assisted living/memory care community. It was previously owned by a New England-based owner/operator with a single community in Florida. They chose to strategically exit the state in order to focus on its New England operations. Over the next nine months, Alta Senior Living, the acquirer of the property, will invest another $2.5 million in capex to enhance the community. No purchase price was disclosed. Read More »Schedule a demo
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