Recent Senior Care M&A Deals, Week Ending August 28, 2020
The senior care M&A market slowed a bit later in August, but a few deals did get announced. Check them out below. Long-Term Care AcquirerTargetPrice Northern Horizon CapitalCare home in Denmark$35.4 million Orlando Neighborhood Improvement CorporationBaptist TerraceN/A Private owner/operatorAssisted living/memory care community in Cleveland,... Read More »
Merrill Commercial Real Estate Sells Memory Care Community Out of Receivership
Tyler Merrill of Merrill Commercial Real Estate took an Oregon memory care community that was in receivership and sold it to a group of individual investors new to the industry. To take on the turnaround, that buyer group hired a Northwest-based operator to manage the community. It’s not an easy time for that, to say the least, but with a purchase price of $3 million, or $54,500 per unit, there is certainty some wiggle room to add value. 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 Mr. Merrill was brought in to sell all four in... Read More »
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 »Schedule a demo
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