FOX Rehabilitation Acquires Geriatric Therapy Provider
FOX Rehabilitation, a private practice of physical, occupational, and speech therapists for seniors at home, announced that it has acquired Taylored Rehab LLC, a provider of therapy services to elderly patients in assisted living communities, group homes as well as their own homes throughout Wisconsin. The transaction represents FOX’s first acquisition of a private practice, and it is expected to quickly boost the company’s pool of clinicians, allowing it to serve a larger population of Wisconsin’s aging seniors. FOX will also leverage its proprietary technology to attract leading clinicians, increase patient volume, and deliver clinically excellent care. Read More »
Bloom Senior Living Blossoms Again
Last week we disclosed that Bloom Senior Living and its affiliate Kandu Capital hit a home run with its sale of a 94-unit assisted living and memory care community in St. Petersburg, Florida. They purchased it for $5.5 million in 2017 and just sold it for $12.5 million. Not too shabby. Well, it looks like they did it again, this time selling a 91-unit assisted living community in Lakewood, Ohio for $11.8 million, or nearly $130,000 per unit. While that price per unit will not be breaking any records, Bloom had purchased the community in 2010 for just $3.1 million out of the Sunwest Management bankruptcy. Do the math, and that is a 380% return... Read More »
SLIB Secures Three Sales on Two Coasts
Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage announced a couple of closings out West. Starting in rural central Oregon, the trio sold a 27-unit/35-bed assisted living community in the town of Maupin for $1.6 million, or $59,300 per unit. Built in 2005, this community was fully occupied, but with a 60% Medicaid census. It was operating at a 20% margin on over $1 million of revenues, which is solid but presents an opportunity for a new owner. The current regional owner/operator chose to focus on its larger communities in major West Coast MSAs and decided to sell the community to an Idaho-based regional owner/operator that does focus on these... Read More »
Blueprint Advises Another SNF Sale
Blueprint Healthcare Real Estate Advisors’ Ben Firestone and Michael Segal recently facilitated the sale of Magnolia Manor, a skilled nursing facility in Inman, South Carolina. Built in 1967, Magnolia has 176 beds, which represents over 40% of the total licensed beds in the local market and twice the capacity of the next largest competitor. The seller was a partnership that had leased the facility to a large East Coast-based provider that also operates another facility in the area. That operator will continue to manage the facility following stable and consistent operational performance. Not only that, but the operator also emerged as the buyer, beating out four other competing... Read More »
The Ensign Group and CareTrust Acquire Two Texas SNFs
The Ensign Group and CareTrust REIT have teamed up to acquire the real estate and operations of two skilled nursing facilities in the Austin, Texas metropolitan area. CareTrust purchased the facilities for $32.5 million, or about $135,000 per bed, while The Ensign Group recently took over operations effective August 1, 2021 as part of the acquisition. This deal brings Ensign’s growing portfolio to 242 healthcare operations, 22 of which also include senior living operations, across thirteen states. The facilities are Sedona Trace Health and Wellness Center, a 119-bed skilled nursing facility located in Austin, Texas; and Cedar Pointe Health and Wellness Center, a 122-bed skilled... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
