Blueprint Facilitates SNF Sale in Missouri
Michael Segal and Ben Firestone of Blueprint Healthcare Real Estate Advisors recently facilitated the sale of a 96-bed skilled nursing facility in central Missouri. Built in the late 1980s and renovated in the early 1990s, Valley View Health & Rehabilitation is no stranger to Blueprint. In 2018, Blueprint represented the current seller of Valley View, an undisclosed REIT, in leasing this facility along with 10 others in the state to a new operating tenant under a master lease agreement. While the facility’s performance improved under the new operator, Valley View represented a geographic outlier to the provider’s other locations across metropolitan areas in Missouri. So ultimately,... Read More »
Newmark’s Coast-to-Coast Closings
Newmark crisscrossed the country to find buyers for a few seniors housing communities at the end of August. First, representing Healthpeak Properties in another one of the REIT’s divestments, the Newmark team sold a 160-unit CCRC in Northridge, California that was formerly operated by Brookdale Senior Living. Originally built in 2001, the community has grown over the years to include 91 assisted living, 24 memory care and 45 skilled nursing units. Pacifica Senior Living bought it for $29 million, or $181,000 per unit. Next, Newmark reported the sale of two Fort Myers-area assisted living/memory care communities to Lone Star Funds for $51.5 million, or $192,900 per unit. Previously owned by... Read More »
Alta Senior Living Acquires North Tampa Community
Brad Clousing and Daniel Geraghty of Senior Living Investment Brokerage sold an 82-unit assisted living/memory care community in North Tampa, Florida. Developed in 2015 by the seller and operated by their affiliate management company, the community was an operational outlier for them, which prompted the sale. This was their last seniors housing asset in the Southeast. Alta Senior Living stepped in to acquire the property for an undisclosed price, building their operating presence in the state. Read More »
ISL Assumes Operations of Six Midwest Communities
Integral Senior Living has assumed the operations of five new seniors housing communities in Indiana and one in Michigan. The communities are owned by Griffin-American Healthcare REIT III, Inc. Meridian Senior Living previously managed these communities. Along with this announcement, Adam Parton has been named as regional vice president of Operations and Brandy Ross as regional director of Sales and Management. Mr. Parton has decades of successful experience managing seniors housing communities and brings knowledge and expertise of the Midwestern market to this role. Ms. Ross also has years of experience growing and managing seniors housing communities in the Midwest, previously serving in... Read More »
Evans Senior Investments Sells Garden State SNF
Evans Senior Investments represented the seller of a 120-bed skilled nursing facility in New Jersey, which traded for $24 million, or $200,000 per bed. The facility was built in 2000 and has seen multiple renovations since then, with the 65 rooms being private or semi-private. Its residents primarily pay through Medicare and Medicaid. Occupancy at the time of marketing was 77%, leading to subpar operations for the community. Prior to the pandemic, the community averaged a 90% census with 41 short-term rehabilitation residents contributing to $15.6 million in revenue. But the facility also had a high expense structure and was not very profitable even before the pandemic. ESI marketed the... Read More »Schedule a demo
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