Separate Buyers Complete Skilled Nursing Acquisitions
Jeffrey Vegh and Joe Schiff of Forest Healthcare Properties handled two separate off-market skilled nursing transactions. First, they sold a 120-bed facility in a southeast state that was 85% occupied at closing. It was acquired by a regional operator that was expanding into the area. Next, Vegh and Schiff represented a seller that was divesting a facility in Suffolk County, New York. Built in the 1970s, the facility was well-occupied and cash flowing at the time of sale, with occupancy over 90% at closing. The established buyer has facilities in the surrounding area and was looking to expand. Read More »
Minneapolis-Based Investor Acquires in Wisconsin
Bob Richards and Chad Wegner of Senior Care Realty facilitated the sale of a two-property seniors housing portfolio in Madison, Wisconsin, on behalf of a Dane County-based seller. The portfolio included two newer-vintage assisted living/memory care communities, comprising 66 units and 72 beds, operating under an all-private-pay model. At the time of sale, the communities were not performing, with occupancy levels on the lower end. However, the new Minneapolis-based investor and local management team are well positioned to drive occupancy and profitability. The purchase price was $9 million, or $136,000 per unit, with financing secured through a conventional lender. Read More »
Publicly Traded Healthcare REIT Grows in South Carolina
An institutional private equity seller engaged Blueprint in its sale of a senior care community in Greenville, South Carolina. The Gables comprises a three-story assisted living and memory care building and an adjoining skilled nursing component with private pay and Medicare occupants. The community was experiencing a strong recovery and was trending positively at the time of marketing, driven by improving private-pay demand and favorable Medicare reimbursement dynamics on the skilled side. Emerging from a range of buyer profiles, a publicly traded healthcare REIT was ultimately selected as the buyer. The REIT was looking to expand an existing partnership with a regional seniors... Read More »
PruittHealth Acquires Again in the Southeast
PruittHealth recently announced that it acquired a community in Winston-Salem, North Carolina. Built in 1997, Forest Heights Senior Living (now known as PruittPlace – Winston Salem) features 99 units with 104 beds of AL, MC and respite care services. Residents can choose between AL services in private studios or one-bedroom suites, and MC in private or shared studios. With the addition of this community, PruittHealth now owns or operates 13 AL communities in the Southeast. Blueprint facilitated the sale on behalf of a national, REIT-affiliated owner/operator seeking to strengthen its portfolio by divesting certain challenged properties. Kyle Hallion, Kory Buzin and Steve Thomes... Read More »
New Tenant Secured for New Hampshire Nursing Home
Evans Senior Investments was engaged by an institutional owner to facilitate the lease of a large nursing home in New Hampshire. At the time of marketing, the facility was performing well. However, a large-scale renovation was just completed, which took 40 beds offline, offering the opportunity for a strong regional operator to significantly improve performance. There was strong interest in the asset, with ESI ultimately securing a tenant aligned with the seller’s strategic goals. Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
