Recent Senior Care M&A Deals, Week Ending July 31, 2020
We may be at the low point in terms of M&A activity, but there are still deals being announced. Check out our latest chart! Long-Term Care AcquirerTargetPrice Not disclosedCopper Ridge$20 million New York-based owner/operatorShire Senior LivingN/A Local real estate buyerChelsea of Jenkintown$3... Read More »
The Prestige Group Sells Shuttered Senior Living Community
A purpose-built, 62-unit senior living community located in suburban Philadelphia was shuttered over a year ago, but new ownership will soon reopen it as a market-rate apartment building. Joe Shallow and Jim Baranello of The Prestige Group represented the seller in the sale, which came to $3 million, or $48,400 per unit. Originally built in 1989 as Sunrise Assisted Living, the Jenkintown community featured both personal care (assisted living) and memory care services. Chelsea Senior Living bought it around 2010 as part of an expansion outside of its New York and New Jersey footprint. However, this was Chelsea’s first and ultimately only facility in Pennsylvania, and after a few years any... Read More »
Brookdale Breaks Bread With Ventas
Perhaps the two most powerful women in seniors housing, Debbie Cafaro of Ventas and Cindy Baier of Brookdale Senior Living, had to make some decisions with regard to Brookdale’s under water leases that have a maturity date in 2025. If there can be any silver lining with the current pandemic, it most likely pushed the two sides to come to an agreement to do something now before the leases drowned in more red ink. And while there are benefits to both companies, the newly revised lease agreements provide a cash-flow lifeline to Brookdale. The triple-net leased portfolio now has 120 communities, but when the lease was last negotiated back in 2018, combining several leases into one master... Read More »
Acts Retirement-Life Communities Disposes Non-Core Property
Acts Retirement-Life Communities decided to shed a non-core property located near Baltimore, Maryland, working with Ben Firestone and Michael Segal of Blueprint Healthcare Real Estate Advisors to get the deal done. Built in 1994, the property features 66 skilled nursing beds and 60 assisted living/memory care units in the town of Sykesville, about 20 miles west of Baltimore. Acts picked up the property in May 2019 as part of a merger with Integrace, another not-for-profit senior care provider with four communities in Maryland. However, the community did not fit in with Acts’ CCRC business model and was slated for sale. The Blueprint team procured 12 competitive offers during a 30-day... Read More »
Concerto Adds Dialysis Service In Missouri SNF
Skilled nursing patients are obviously some of the most vulnerable to the COVID-19 virus, and providers have been working hard to minimize their exposure to it. In-house dialysis can be one service that helps that cause by bringing dialysis to the patients, rather than bringing the patients to a dialysis center and exposing them to different environments from the shuttle bus to the center itself three days a week. On top of that, in-house dialysis is just a better and less tiring experience for the patients themselves. Concerto Renal Services expanded its in-house dialysis offering to a skilled nursing facility in Kansas City, Missouri that is owned by Ignite Medical Resorts. This... Read More »Schedule a demo
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