Marcus & Millichap Facilitates Virginia Acquisition
English Meadows Senior Living, a Mid-Atlantic owner/operator of 11 communities, added another community to its Virginia portfolio with the purchase of White Oaks at Williamsburg. Built in 2015 and opened in early 2017, the 48-unit memory care community is located in Williamsburg. It features three buildings with 16 units in each. Phoenix, Arizona-based New Dawn Assisted Living was the original developer of this property (plus another in Richmond) but filed for bankruptcy protection before finishing either project. A private investor with a seniors housing portfolio in the Midwest had purchased the Williamsburg project in 2016 for $7.5 million and finished construction soon... Read More »
Bain Capital and CSH Sell Seniors Housing Portfolio
Bain Capital Real Estate and Capitol Seniors Housing have sold a portfolio of seven seniors housing communities located across four states to an undisclosed buyer. We’ll have more details to follow in the November issue of The SeniorCare Investor, but what we know right now is that there are 598 total units of assisted living and memory care. They were relatively new, Class-A communities, so we imagine they sold for a high (albeit undisclosed) amount. Bain and CSH had started growing the portfolio in 2015 through an initial acquisition and subsequent new developments. Read More »
Blueprint Closes Two More Deals
What a week it was for Blake Bozett of Blueprint Healthcare Real Estate Advisors. In the same week that he closed an assisted living community sale in Nampa, Idaho, he and his wife welcomed their first child! We know the latter announcement is probably more important to him, but we’ll focus on the former here. Mr. Bozett facilitated the sale of Streamside Assisted Living and Memory Care, a 79-unit assisted living and memory care community located outside of Boise. Built in 2006, Streamside saw a healthy operating margin around 30% and stable occupancy in the 80s, even during the pandemic. The local sellers have been in the industry for over 20 years but are selling in order to focus on... Read More »
Monarch Alternative Capital & American House Joint Venture
Investment firm Monarch Alternative Capital and national operator American House Senior Living Communities are joint venturing to pursue the acquisition, development and management of seniors housing communities across the United States. The two entities kicked off the venture with the recapitalization of seven properties that were partially owned by American House, with one of the properties acquired through a third party. The seven communities total 1,047 units throughout Florida, Michigan and Ohio, comprising 525 independent living, 356 assisted living and 166 memory care units. They average about five years in age and feature a number of updated residential amenities. With their... Read More »
SLIB Facilitates Sale of Texas SNF Portfolio
Senior Living Investment Brokerage’s Matthew Alley facilitated the sale of three skilled nursing facilities in Henrietta, Olney and Nocona, Texas. The combined facilities, totaling 250 beds, sold for $7.75 million, or $31,000 per bed. The properties, which have an average occupancy of 50%, are within 90 miles of each other northwest of Fort Worth. The seller is an independent owner/operator who is exiting the industry, and the buyer is an out-of-state owner/operator that is purchasing its first nursing home. The facilities earned revenues totaling $9.87 million and EBITDA over $500,000 in 2020. These communities are also enrolled in QIPP, which provides additional revenues not... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
