Welltower Sells Vintage Park Portfolio
Midwest Health completed the largest acquisition in its nearly five-decade history, and in its home state of Kansas. The Topeka-based firm bought 15 assisted living communities with the help of its financial partner, Capitol Federal, a bank also headquartered in Topeka. The 15 communities were formerly under the Vintage Park brand and will now be branded as Homestead Assisted Living communities. Totaling approximately 600 units, they are located in Atchison, Baldwin City, Gardner, Hiawatha, Holton, Lenexa, Louisburg, Osage City, Osawatomie, Ottawa, Overland Park, Paola, Tonganoxie, Wamego and Wichita. On January 1, 2016, Welltower acquired 18 Vintage Park... Read More »
Well-Performing Facility Sells for Strong Price
A rare skilled nursing and behavioral health facility in Tucson, Arizona, sold for a strong price to a partnership between a regional healthcare equity investor and a national skilled nursing operator. Featuring 144 beds, the facility is licensed by the state for both medical and behavioral health services, being the only SNF in the Tucson area to be dedicated exclusively to behavioral healthcare. That helped contribute to its strong financial performance with healthy cash flow, as well as to investor interest in the listing. The facility also recently received capital enhancements. Henry “Hap” Knowles, Nick Stahler and Michael Mooney of The Knapp-Stahler Group at Marcus &... Read More »
Upstate NY Seniors Housing Community Trades
Kory Buzin and Steve Thomes of Blueprint facilitated the sale of a seniors housing community in upstate New York that stakeholders were divesting to take advantage of positive performance trends and a strong M&A market. The Legacy at Cranberry Landing, a 95-unit independent living, assisted living and memory care community in Rochester, was constructed in 2004 and fully renovated in 2015. The community is licensed to accept Enhanced Assisted Living Residents. It experienced recent occupancy increases. Multiple offers for the community were procured, with a growing regional owner based in the Northeast selected as the buyer. There were issues between LOI and closing, but Buzin and... Read More »
Seniors Housing Investment Vehicle Acquires First Asset
Focus Healthcare Partners acquired Bellingham at West Chester, a 274-unit seniors housing community in West Chester, Pennsylvania. The investment is Focus’ first for its newest investment vehicle, Focus Senior Housing Fund III. The property sits on an 11.8-acre site 20 miles west of downtown Philadelphia. It comprises 208 independent living, 50 assisted living and 16 memory care units. Also located on the campus is a historical site, Washington’s Tavern, built in the 1700s as a barn for a mill farm, which has now been repurposed to a dining and event space for residents. LCS manages the property. According to LevinPro LTC, the community was previously sold by Walton Street Capital and... Read More »
Management Transfer Includes Purchase Option
A senior care campus in Waterloo, Illinois, secured a new operator thanks to Ray Giannini of Marcus & Millichap. Featuring 144 skilled nursing beds and 50 independent living units, Oak Hill – Senior Living and Rehabilitation Center was well occupied with a strong quality mix. It was owned by Monroe County, which wanted to retain the real estate of the campus. So, Giannini secured a long-term, triple-net lease with a new operating partner. The agreement included a purchase option. Read More »Schedule a demo
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