Publicly Traded REIT Acquires in Colorado
The Walker & Dunlop Seniors Housing team started the year off strong, with two closings in January. W&D first represented a major Georgia-based not-for-profit health system in the divestment of three skilled nursing facilities totaling 448 beds. Despite their rural locations, operational challenges and capital expenditure needs, W&D secured multiple competitive offers over an elongated closing process, securing an attractive price per bed. Nick Hall handled the transaction. The W&D team also closed the sale of a large institutional-owned seniors housing community in Colorado. The buyer was a publicly traded REIT, which retained the existing management team to sustain... Read More »
East Coast Owner/Operator Acquires First NJ Community
Evans Senior Investments facilitated the sale of The Heritage Assisted Living, an assisted living and memory care community in Hammonton, New Jersey. ESI was engaged by the independent owner and lender of the property and procured six competitive offers from institutional capital and regional owner/operators. The ultimate buyer was an East Coast owner/operator, with this community being the first it has acquired in the state. Read More »
California-Based Owner/Operator Acquires Note
An international bank engaged Blueprint to oversee the sale of its interest in a 180-bed skilled nursing facility in the Santa Rosa area of Northern California. The mortgage on the facility was in default despite the facility’s strong historical operating performance and occupancy. It demonstrated extremely high top-line revenue, strong-per-patient day revenues, and robust in-place cash flow. Jacob Gehl, Dillon Rudy and Kristen Ahrens handled this transaction. There was widespread interest from California-based and national owners/investors before an experienced California-based owner/operator was selected as the buyer of the note for $18 million, or $100,000 per bed. Read More »
Welltower to Acquire NorthStar Healthcare
Welltower and NorthStar Healthcare Income announced that NorthStar Healthcare has entered into a definitive merger agreement to be acquired by an affiliate of Welltower, in an all cash transaction with an approximate enterprise value of $900 million, or around $185,000 per unit. Under the term of the merger agreement, NorthStar Healthcare’s stockholders will receive $3.03 per share in cash. This per share consideration exceeds the net asset value per share of $2.96 determined by NorthStar Healthcare’s board of directors as of June 30, 2024. NorthStar has a portfolio of 40 seniors housing communities with 4,886 independent living, assisted living and memory care units that have been... Read More »
PE Firm Divests in Oregon to Local Owner/Operator
A nationally recognized institutional private equity firm engaged Blueprint to oversee the sale of two high-performing seniors housing communities totaling 344 units in Oregon. The communities are Evergreen Senior Living, which is in Eugene, and Timber Pointe/Woodside Senior Living, which sit on the same campus in Springfield. Built between 1996 and 2006, the communities underwent significant renovations in 2021 and have since maintained stable operational performance, catering to both private-pay and Medicaid residents. They were well-occupied, around 95%, but with a significant amount of Medicaid residents. The properties were well-maintained and together offer 43 independent living, 245... Read More »Schedule a demo
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