Chicago Pacific Founders Acquires Texas Community
Chicago Pacific Founders has added another Texas community to its portfolio, its first acquisition in the Lone Star State since announcing two separate deals in 2019. Opened in September 2019, this Houston community features 85,400 square feet and 100 units of assisted living and memory care. Meridian Realty Advisors developed it, with Integral Senior Living coming in as operator. However, Chicago Pacific Founders’ subsidiary Grace Management will operate the community going forward. Additional terms of the deal were not disclosed, but Chicago Pacific will invest in capital improvements at the property. Read More »
Marcus & Millichap Handles Senior Apartment Transaction
Greg Parker and Greg Price of Marcus & Millichap’s Denver office represented a private investor in the sale of its low-income senior apartment community in Lakewood, Colorado. Built in 1999 under the low-income housing tax credit program, the community has 58 units with a mix of studio, one- and two-bedroom units. It also offers assisted living and independent living options. Community amenities include housekeeping services, activities, a library, beauty salon and restaurant-style dining. An undisclosed buyer acquired the property for $8.3 million, or $143,100 per unit. Phillip Gause of Marcus & Millichap Capital Corp. arranged acquisition financing for... Read More »
SavaSeniorCare Sells a Couple of Illinois SNFs
SavaSeniorCare sold a couple of its Illinois properties, part of its plan to transfer the operations of some 48 facilities in its portfolio by the end of 2021. The deal represents the company’s last two properties in the Land of Lincoln. First, it is handing over the keys of its 74-bed subacute/skilled nursing facility in Mount Vernon, Illinois, to a Midwest-based regional owner/operator. Built in the 1960s with additions throughout the 1970s, the facility provides a range of services from post-op rehab, stroke recovery and respiratory care to advanced therapy modalities like diathermy, heat and cold therapies and electrical stimulation, just to name a few. Lab and X-ray services are also... Read More »Recent Senior Care M&A Deals, Week Ending May 14, 2021
Senior care M&A activity seems to have picked up a bit this month. Here is our latest deal chart. Long-Term Care AcquirerTargetPrice Bickford Senior Living6 seniors housing communities$52.9 million Fortress Investment Group, LLC5 assisted living communities$64 million Crest Healthcare GroupNature Trail Health Care Center & Odin Healthcare Center N/A Carlyle Senior CareFountain Inn Nursing & Rehabilitation... Read More »
Blueprint Capital Markets Closes First Transaction
Blueprint Healthcare Real Estate Advisors’ Capital Markets Group, which is led by Alex Florea, has the first closing under its belt, as it was revealed the group secured acquisition financing for Chicago Pacific Founders’ purchase of an assisted living/memory care community in Tucson, Arizona. In addition, Blueprint’s Amy Sitzman, Jacob Gehl and Humair Sabir represented the developer and owner in the transaction. Opened in May 2018 and about 90% occupied by the time of the sale, the community features 87 assisted living and 20 memory care units. Willis Development, in partnership with Dekel Capital which provided $8.4 million of equity, developed the community, and Milestone Retirement... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
