LCS and Vi Cement Merger
After completing regulatory approvals, LCS and Vi have now closed on their merger agreement, with their combined portfolio including 130 communities across 29 states with more than 45,000 beds. Together, the companies have more than 90 years of combined experience in senior living. CS Capital Advisors served as Lead Financial Advisor and Eastdil Secured Advisors LLC served as Special Financial Advisor to Vi in conjunction with the transaction. Vi is a developer/owner/operator based out of Illinois with 10 CCRCs encompassing 4,000 beds in Arizona, California, Colorado, Florida, Illinois and South Carolina. It is the rebranded Classic Residence by Hyatt portfolio. Vi’s brand will operate as... Read More »
SLIB’s Red-Hot Start to May
Senior Living Investment Brokerage shot out of the gates in May, announcing six separate closings within just a couple of days. The closings included a couple of portfolios, two seniors housing asset sales and two skilled nursing deals. SLIB is on track for another record-breaking year. The largest deal was an eight-property seniors housing portfolio sale in Colorado, handled on behalf of a Fort Collins-based seller, Columbine Health Systems. Totaling 540 units of independent living, assisted living and memory care, the eight properties were built between 1992 and 2018. They were part of a larger 13-property portfolio that Columbine had slated for sale in 2025. The first five... Read More »
Independent Living Asset Near Breakeven Changes Hands
Blueprint handled the sale of a 60-unit independent living community located just outside of Cleveland, Ohio. At the time of sale, the property was operating around breakeven and offered the opportunity for upside. The option to transition the community to an assisted living waiver model was presented, but the incoming regional owner/operator opted to maintain its independent living status to avoid the regulatory hurdles that come with licensure conversion. The buyer aligned with the seller’s vision for the community, and intends to focus on operational efficiencies and incremental improvements. Connor Doherty and Ryan Kelly of Blueprint represented the undisclosed... Read More »
National Health Investors Leans Further Into SHOP Growth
National Health Investors is continuing to lean into its SHOP segment, having invested $742.5 million into the strategy throughout the first quarter, a 106% increase from the prior year period. Year-to-date, the REIT has announced $212.4 million of investments, and is continuing to evaluate additional opportunities, focusing on private pay seniors housing. NHI also announced that it sold a few assets during the quarter and acquired two separate portfolios. In January, National Health Investors sold a 42-unit senior living campus in Michigan for $6.7 million, and in February, the company acquired nine assisted living communities in Kentucky, South Carolina and Tennessee. Berkadia handled... Read More »
Large SNF Portfolio Trades in Alabama
A large skilled nursing portfolio traded hands in Alabama with the help of Jeffrey Vegh and Joe Schiff of Forest Healthcare Advisors. A Florida-based group divested the 11 facilities, which comprise 1,205 beds. At the time of sale, the portfolio was cash flowing and operating at a healthy occupancy, but still offered upside potential. The buyer was an East Coast healthcare company with an existing skilled nursing and assisted living footprint. Read More »Schedule a demo
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