Recent Senior Care Deals, Week Ending October 30, 2020
The month of October was busier than normal, or at least the post-pandemic normal. Check out our recent senior care M&A deal chart. Long-Term Care AcquirerTargetPrice The Ensign GroupThe Medical Lodge of AmarilloN/A Regional owner/operatorArbor Court & The Willows$2.85 million Not disclosed3 senior living communities$46 million Not disclosedSt John's Manor$1.3... Read More »
Senior Care Realty Sells Wisconsin Assisted Living Community
Mark Van Den Broeke of Senior Care Realty led the sale of an assisted living community in the Milwaukee area of Wisconsin with an unconventional history. That is because it was a former convent, but the 60-year old community has been operating as a 24-unit/27-bed assisted living community in South Milwaukee for many years. Built in 1960, it has recently been renovated, and occupancy was hovering around 100%. Operations were also solid, and the community made a profit on mostly government funding. The deal was actually fully negotiated and closed pre-COVID but just now has risen to the surface. The community sold for $1.305 million, or $54,400 per unit, at a 10.5% cap... Read More »
Recent Senior Care M&A Deals, Week Ending October 27, 2020
In the last two weeks, we have seen a fair number of closings in the senior care market. Here are a few highlights. Long-Term Care AcquirerTargetPrice FairsteadFederation Davie Apartments$17.9 million Regional owner/operatorAssisted living community in WI$3.1 million CT-based owner/operator2 skilled nursing facilities in CTN/A Not disclosedSt John's Manor$1.3... Read More »
San Bernadino County Community Sells To In-Place Tenant
A competitive bidding process ended with the sale of an 83-unit assisted living/memory care community in Yucaipa, California (San Bernadino County). The winning bidder ended up being the existing tenant, which paid $13.9 million, or $167,500 per unit. Jim and Cindy Hazzard of JCH Senior Housing Investment Brokerage handled the transaction. Previously owned by a partnership, this community was built in 2003 and 2004 with 54 assisted living units, 29 memory care units and 130 total licensed beds on a 7.5-acre campus. The deal was supposed to close in March but was delayed by the pandemic, and in the end, there was no change in the purchase price. It certainly helped that operations were... Read More »
Senior Care Realty Handles Wisconsin Transaction
Bob Richards of Senior Care Realty represented a husband and wife team in their sale of a small assisted living community in Manitowoc, Wisconsin, thereby allowing them to retire from the business. This was their only senior care asset, which they developed in 2014 to feature 24 assisted living units and 26 beds, with a small portion of those set aside for memory care. Operations were strong with occupancy in the mid-90s and an operating margin of 31% on about $1.1 million of revenues, which did not drop off much as a result of the pandemic. With such consistent performance, there was also no movement on the final purchase price negotiated before COVID of $3.1 million, or $130,000 per... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
