Diversicare Expands in Tennessee and Enters North Carolina
Diversicare Healthcare Services completed the acquisition of three skilled nursing facilities in Tennessee (2) and North Carolina. This acquisition brings the company’s total number of facilities to 49 and marks its entrance into North Carolina. Built in 1980, Etowah Health & Rehabilitation Center, formerly known as Etowah Health Care Center, is in Etowah, Tennessee, with 120 beds. Built in 1999, Diversicare of Copper Basin, formerly known as Copper Basin Health and Rehabilitation, is in Ducktown, Tennessee, with 135 beds. The facility closed in 2017, and was vacant at the time of sale. Built in 1979, Mountain View of Bryson City, formerly known as Mountain View Manor Nursing... Read More »
SLIB Closes Transaction Trio
Senior Living Investment Brokerage shot out of the gates in the second quarter, announcing three closings for skilled nursing facilities across the country. First was the sale of a 105-bed SNF in Pueblo, Colorado, which was previously owned by an East Coast-based regional owner/operator that was divesting the asset to focus on its core markets. Built in 1964 with renovations and expansions in 1982, 2008 and 2018, the facility was licensed for 120 beds. Dubbed Prestige Care Center of Pueblo, the facility received several offers from buyers before a California-based owner/operator with an established presence in Colorado was selected. Vince Viverito and Nick Cacciabando handled the... Read More »
Three Buyers Purchase Florida Portfolio in Receivership
Continuum Advisors ended the first quarter with a five-property portfolio deal closed in their home state of Florida. The communities total 340 units (74 assisted living and 266 memory care) and are located across central and northern Florida. They include Superior Residences of Clermont, a 114-unit AL/MC community in the Orlando MSA, Superior Residences of Cala Hills, a 60-unit MC community in Ocala, Superior Residences of Brandon, a 46-unit MC community just east of Tampa, Superior Residences of Lecanto, a 60-unit MC community along Florida’s northwest central coast, and Superior Residences of Niceville, a 90-unit MC community on the Florida panhandle. They are roughly 20 years old and... Read More »
Blueprint Handles NHI New Jersey Acquisition
A national developer/investor engaged Blueprint in the sale of a high-performing seniors housing community in an affluent and high-barrier-to-entry New Jersey market. Built in 1999, Juniper Village at Paramus comprises 98 assisted living and 22 memory care units in Paramus. The community has been operated by Juniper Communities since February 2021. The lease has a 15-year maturity with two five-year renewal options at an initial yield of 7.95% plus annual fixed escalators. Blueprint targeted a wide cross-section of operators, investors and developers, highlighting in-place cash flow, ability to drive further upside through renovations and scarcity of comparable acquisition... Read More »
Ensign’s Acquisition Spree
The Ensign Group closed several acquisitions throughout February and the beginning of April. First, it acquired the real estate and operations of Citrus Heights Respiratory and Rehabilitation, a 204-bed skilled nursing facility, and Springdale Village Post Acute, a 122-bed skilled nursing facility, both in Mesa, Arizona. Blueprint’s Amy Sitzman and Giancarlo Riso were engaged by the previous owner to explore a sale or lease of Citrus Heights, which generated revenues and EBITDAR of $12.1 million and $1.2 million, respectively, despite operating below market occupancy. The seller later decided to engage Blueprint for the sale of Springdale Village, which (like Citrus Heights) was located... Read More »Schedule a demo
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