Blueprint Handles Cleveland Closing
A private owner/operator looking to expand its presence and increase its operational leverage in the Midwest acquired an assisted living/memory care community in Cleveland, Ohio, with the help of Connor Doherty, Ryan Kelly, Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors. Featuring 133 units about evenly split between assisted living and memory care, this community was built in the early 2000s. It has struggled with occupancy, leading its national owner/operator to seek a sale. Blueprint brought the asset to a well-capitalized private owner/operator, which will reposition the community as an affordable option in the Cleveland MSA by utilizing the state’s... Read More »
Private REIT Finds New Operator For Colorado Communities
Fresh off of arranging a partnership buyout for an assisted living campus in Illinois, Bill Janis and Mario Wilson of Helios Healthcare Advisors found a new operator for two assisted living communities in Colorado. Both built in the late-1990s, these communities were owned by a private REIT based and incorporated in the U.S. but controlled by a Hong Kong private investment management firm. Around 25% of their census was made up of Medicaid residents, and their operating performance could be improved. Part of the reason for that was the assets were far from the prior operator’s Santa Barbara, California headquarters. There is also the opportunity to reposition them to better compete in... Read More »
Healthpeak Sells Louisville Senior Living Community
Healthpeak Properties is selling one of its Atria Senior Living-operated communities to a regional owner/operator acquiring its first Kentucky property. Located in Louisville, where Atria is headquartered, this community was developed in 2001 and features 203 units of independent living, assisted living and memory care. Ownership has changed over the years from Horizon Bay Retirement Living to CNL Retirement Properties to HCP to Healthpeak Properties. It has also seen a number of operators in its history, starting with Horizon Bay, and then Brookdale Senior Living took over in 2011. That deal saw Brookdale acquire 100% of the equity interest in Horizon Bay and enter into agreements with... Read More »
Blueprint Handles Not-For-Profit Sale to The Ensign Group
According to its second quarter earnings report, The Ensign Group certainly defied expectations for the rest of the senior care industry and has been performing relatively well lately. The company also announced its acquisition of a CCRC in Tempe, Arizona, which we’ve learned Blueprint Healthcare Real Estate Advisors helped facilitate. Previously owned and operated by Volunteers of America Senior Living, a large not-for-profit with over 20 communities in its portfolio, the campus includes a 62-bed skilled nursing facility and a senior living community with 90 independent living and 72 assisted living units. The community has a 40-year history in the Tempe market and maintained a good... Read More »
Recent Senior Care M&A Deals, Week Ending August 21, 2020
The second quarter earnings announcements did not result in many deals, but some M&A transactions were still announced. Check out our recent deal chart! Long-Term Care AcquirerTargetPrice The Ensign GroupTempe Post Acute & Desert Marigold Senior Living of TempeN/A Cadence Living/Private equity group2 senior living communities in CON/A Local owner/operatorSenior care campus in KS$531,000 Owner/operatorSkilled nursing facility in... Read More »Schedule a demo
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