Recent Senior Care M&A Deal Chart, Week Ending January 22, 2021
The M&A market was on fire in the last month of 2020, and got off to a fast start in 2021. Check out our recent senior care M&A deal chart. Long-Term Care AcquirerTargetPrice Non-traded REIT16 seniors housing communitiesN/A Local individualAssisted living community in San Antonio, TXN/A Regional owner/operatorCarroll Nursing HomeN/A Owner/operatorThe Village of GoshenN/A Out-of-state groupTender Hearts Assisted Living$9.2... Read More »
Senwell Sells Indiana “Green House” SNF
A month after closing an assisted living community sale in North Carolina, Senwell Senior Investment Brokerage switched gears to the skilled nursing market to sell a small facility in Goshen, Indiana. Opened in 2018 by an owner/operator, the facility consists of four homes in the “Green House” style, each with 12 private rooms. Each home has a family room, dining room and kitchen, with an open concept. That separation may have also played a role in reducing the risk of COVID-19 outbreaks too. And it clearly worked at this location, as it quickly filled up with mostly Medicare and private pay residents. The community also operated at a strong EBITDAR margin. Ben Bohland... Read More »
Giannini Closes Green Bay Sale
Ray Giannini and Aaron Thompson of Marcus & Millichap arranged the sale of a 50-unit assisted living/memory care community in Green Bay, Wisconsin. Contrary to many seniors housing communities today, this property was fully occupied, with a 100% private pay census at the time of closing. It also reported strong cash flow and was relatively new construction, having been built in phases from 2009 to 2019. The husband-and-wife seller had a lot to do with that strong performance, working diligently to maintain census and keep the community COVID-free throughout the year. They will be exiting the industry with this sale, which came at a price of $9.2 million, or $184,000 per unit. An... Read More »
Grandbridge Arranges Two Seniors Housing Sales
Not long after making the move from Cushman & Wakefield to Grandbridge Real Estate Capital, the Tampa-based team of Allen McMurtry, Dave Kliewer and Jay Jordan announced a couple of seniors housing sales. First, they were tapped by the owner of an independent living/assisted living community near Springfield, Massachusetts to run a bankruptcy sale process. Built in the 1990s with 187 units of independent living and assisted living, including 129 cottages, the community was around 65% occupied. With a stalking horse bid of $9.0 million, the virtual live auction in late September 2020 resulted in more than 100 rounds of live bidding, with a final sale... Read More »
Colliers International Announces Florida Portfolio Deal
Damien and Ken Carriero of Colliers International kicked off their 2021 campaign with the sale of three assisted living communities totaling 180 units and 313 beds in Florida. Previously owned by Florida Seniors Properties, Inc., these communities are located in Port Richey, Casselberry and Zephyrhills, with an average occupancy of just 66%. Best Care Senior Living, LLC purchased the Port Richey property, while another ownership entity bought the other two communities. Colliers simultaneously closed the transactions on January 12. The combined purchase price was $13.7 million, or $76,100 per unit. Read More »Schedule a demo
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