National Health Investors Acquires Wisconsin Assisted Living Community
Ten months after refinancing a 43-unit assisted living/memory care community in Bellevue, Wisconsin, National Health Investors executed on a purchase option for the property. Opened in 2019, the community was operated by 41 Management through its affiliate Matthews Senior Living. Not long after the community opened, NHI provided a $3.87 million mortgage with a one-year term and two six-month renewal options. It also came with an interest rate of 13%. In addition, NHI obtained a purchase option, which it is executing at $12.3 million, or $286,000 per unit. The community was then leased back to 41 Management at an initial term of 15 years with two five-year renewal options. The... Read More »
Welltower Portfolio Sold
Since last March, we have been wondering what happened to Welltower’s large sale of a prominent seniors housing operating portfolio of western senior living properties. It would have been the largest deal of the year so far at the original $740 million price, but it fell apart, as we assume many deals did once the coronavirus pandemic unleashed its terror. We had heard through the grapevine that it was still in the market, but it wasn’t until late last week that we saw in some local publications out West that a few of the pieces of the portfolio were closed, according to the local real estate filings, including identifying Merrill Gardens as the operator. That would... Read More »
Recent Senior Care M&A Deals, Week Ending September 25, 2020
September has not seen many deals announced in the senior care sector, but here are the most recent ones in our M&A deal chart. Long-Term Care AcquirerTargetPrice Atlas Senior Living3 assisted living communitiesN/A Avanath Capital ManagementCascades Village Senior Apartments$27.15 million SE-based owner/operatorSterling Meadows$2.85... Read More »
Blueprint Sells Oregon Community
A memory care community in Coos Bay, Oregon may have closed a couple of years ago, but a new owner recently took over the building thanks to Dan Mahoney and Blake Bozett of Blueprint Healthcare Real Estate Advisors. Built in 1998, this 55-unit memory care community is located in Coos Bay on the central Oregon coast. Its previous owner originally acquired the community as part of a four-property portfolio in 2008, and Tyler Merrill of Merrill Commercial Real Estate was brought in to sell all four in 2018. Together, the four properties make up a continuum of care in the local area, but the Coos Bay community has been vacant since 2018. In late 2019, the entire portfolio went into... Read More »
Home Health Care & Hospice Sees Busy M&A Week
It was a busy week for home health & hospice (HH&H) transactions. Results from our Deal Search Online database show there were four announced last week alone, half of September’s total so far. Half of the deals were completed by private equity-backed companies, which highlights the continued interest in HH&H from PE firms. Jet Health, Inc., a portfolio company of Health Enterprise Partners, kicked off the week by announcing the acquisition of Texas-based Carrington Hospice Care, Inc. Jet Health acquires and operates home health care companies, which offer skilled nursing care, physical, speech and occupational therapy, rehabilitative care, medical social services, personal... Read More »Schedule a demo
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