Real Estate Investment Group Acquires Northern California Seniors Housing Portfolio
M&A has been especially active in the first two weeks of the fourth quarter. It seems a dam, of sorts, of delayed deals had broken. There are certainly many more deals still in limbo or terminated altogether because of the pandemic, but it is an encouraging sign to see this level of deal-making considering the circumstances. One highlight of the activity was the sale of three seniors housing communities in the Northern Sacramento Valley in California, handled by Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage. The deal includes two properties in Chico and one in Oroville, with a total of 85 memory care units and 131 beds. Built... Read More »
Reis Handles Stockton, California Closing
Another small, local owner is exiting the senior care business, with the sale of its assisted living community in Stockton, California. Rob Reis of Marcus & Millichap represented them in the transaction and found a small, regional owner/operator to acquire the property. Featuring 87 units and 96 licensed beds, the community was 78% occupied at the start of negotiations. Plus, the community was producing about $220,000 in NOI on gross revenues of $1.8 million. In addition to improving the operating margin, there is upside in taking care of deferred maintenance and adding more care services. The final purchase price leaves room for adding value, with the regional owner/operator paying... Read More »
Local Owner in Georgia Exits Senior Care Market
Two Senior Living Investment Brokerage teams facilitated an owner’s exit of the senior care industry with the sale of two assisted living communities in Georgia to two different buyers. First, the local owner/operator sold its small community in Cartersville, northeast of Atlanta. Built during the last assisted living construction boom in the early-2000s, the 25-unit community was renovated in 2015. Since then, it has remained well occupied exceeding 90%. A Northeast-based owner/operator looking to expand its portfolio in the Peach State paid an undisclosed sum for the community. The other transaction saw a 58-unit community in Dalton (northeast corner of Georgia) sell to an... Read More »
Blueprint Handles Tacoma, Washington Transaction
A well performing assisted living community in Tacoma, Washington found a new owner with the help of Dan Mahoney and Blake Bozett of Blueprint Healthcare Real Estate Advisors. The seller has owned and operated the community for two decades, and is leaving behind a community with strong operations and cash flow. The 110-unit community caters to the middle market. Blueprint sourced a number of small owner/operators in Washington to take over and eventually found a local company with two other Tacoma communities. They worked with Harvest Bank to secure acquisition financing at 85% of the purchase price, which was not disclosed. The buyer plans to utilize its economies of scale in the Tacoma... Read More »
Recent Senior Care M&A Deals, Week Ending October 9, 2020
The start of the fourth quarter came with a slew of senior care M&A closings, check out our recent deal chart! Long-Term Care AcquirerTargetPrice Real estate investor3 skilled nursing facilities in Houston, TX area$27 million Capri CommunitiesAster Senior Communities of Cottage Grove & Drumlin ResidenceN/A Private buyerRockport Senior Living$4.8 million Regional owner/operatorAmara Place$5.5... Read More »Schedule a demo
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