Senwell Senior Investment Advisors Closes North Carolina Deal
With over 50 years of operating experience in the senior care market, a family owner/operator decided to sell its 55-bed assisted living community in Wake County, North Carolina. After several unsuccessful attempts to sell the property, the owners turned to Brandon Bohland of Senwell Senior Investment Advisors to help with the disposition. The renewed process generated interest from multiple parties, and ultimately a prominent operator in the Southeast stepped in to acquire the community. Read More »
Blueprint’s Two Buckeye Sales
Blueprint Healthcare Real Estate Advisors handled a couple of senior care sales in the state of Ohio comprising a total of four properties. Connor Doherty, Michael Segal and Ryan Kelly handled the larger transaction, which featured three skilled nursing facilities located in Canton, Toledo and Rockford. That’s about 200 miles across the state. Originally built in the 1960s and 1970s with significant renovations and upgrades since 2015, the facilities comprise more than 300 beds. They were well maintained, and the consolidated performance was steadily improving along with its occupancy until COVID-19 hit. At the onset of the pandemic, the REIT owner and operating partner... Read More »
Symphony Care Network Acquires Four of Its Operated Communities
Ziegler’s Senior Housing & Care Finance Practice has been busy this month, reportedly closing a number of transactions in the last week, the most recent one for a portfolio of four skilled nursing facilities and one assisted living community in Illinois. Christopher Utz arranged and negotiated a $49.4 million debt placement for the current operator, Symphony Care Network, to acquire the portfolio from its REIT landlord. There are a total of 616 licensed skilled nursing beds and 109 assisted living units, and Symphony has been operating the properties since 2012. Given the more conservative lending requirements nowadays, we imagine the portfolio was able to more than... Read More »
More Sales From Newmark
We have recently reported on some larger transactions from the Newmark team, but they have also closed some smaller ones. In late November, the team closed on the sale of a 150-unit active adult community in Texas. The community was built in 2015 and has 150 units. They went to market in later 2019 but then the pandemic interrupted the process. That did not deter buyer and seller, as they waited it out for occupancy to get to 92%, which it did, and the deal closed. The price was $57.75 million, or $385,000 per unit, and came with an in-place cap rate close to 4.5%. Greystar will remain as the operator. Newmark and The Carlyle Group, the owners of Greystar,... Read More »
MonticelloAM Closes Acquisition Financing
To support the acquisition of two skilled nursing facilities, MONTICELLOAM, LLC (Monticello) announced that it provided $20.0 million in first lien debt financing. Also included in the financing was one unencumbered skilled nursing facility. The three properties total 251 beds and are located in Kansas and Ohio. They average nearly fifty years in age. An experienced owner/operator with a current portfolio of nearly 1,200 licensed beds was the borrower, having worked with Monticello before, including securing financing for the acquisition of a number of facilities in 2020. Relationships have been key to getting acquisition debt this year, and it seems to be paying off for these two... Read More »Schedule a demo
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