Recent Senior Care M&A Deals, Week Ending July 3, 2020
Check out our recent senior care M&A deals! Long-Term Care AcquirerTargetPrice Regional owner/operatorElderHealth & Living Memory Village$11.85 million Regional owner/operatorBishop Davies Nursing Care Center$8 million Regional owner/operatorWood Memorial Nursing Home$6.365 million Regional owner/operatorLBJ Medical Center$1.2 million JEA Senior LivingGrand View Alzheimer's Special Care... Read More »
Senior Living Investment Brokerage Announces Four Closings
The floodgates opened at Senior Living Investment Brokerage. Just as we entered July, the firm announced four closings for three skilled nursing facilities and a memory care community. Jason Punzel, Brad Goodsell and Vince Viverito first represented a local owner/operator in their sale of a 59-unit memory care community in Springfield, Oregon (Eugene MSA). This was the seller’s only senior living community, but they will stay on as a consultant post-closing. Originally built in 1988 and expanded in 1996, the community comprised nine buildings across the 5.06-acre campus. It was well occupied at 98%, but new ownership could improve the operating margin which stood at 17% on about $6.52... Read More »
Blueprint Handles Large Pacific Northwest Disposition
Amy Sitzman, Dan Mahoney and Blake Bozett of Blueprint Healthcare Real Estate Advisors handled the sale of eight small assisted living communities divided evenly between Washington and Oregon. News of the deal came out in June with two separate acquisition financing announcements from JD Stettin of Carnegie Capital, the first for the Oregon communities and the second for the Washington ones. Totaling 321 units of assisted living, the portfolio was previously owned by a joint venture between Sabra Health Care REIT and private equity group TPG, with Enlivant as the operator. They were struggling operationally and seen as value-add opportunities. The new owner will also convert a number of... Read More »
Fairstead Acquires Another Section 8 Senior Apartment Community
It’s been less than a month since Fairstead, a fully-integrated real estate firm focused on the development, acquisition and operation of affordable and mixed-income housing, purchased a 123-unit affordable senior apartment complex in Sunrise, Florida. But, the firm is doubling down on its strategy and acquired another complex in South Florida. Its newest target is Gould House, a 101-unit Section 8 seniors housing apartment building in Boca Raton. Located in the 100+ acre Jewish Federation of South Palm Beach County Campus, the 30-year old community will receive a $6 million renovation, including upgrades made to all apartments, new kitchens, bathrooms, lighting, HVAC, flooring and... Read More »
JLL Handles Youngstown, Ohio Sale
A large senior care campus in Youngstown, Ohio sold earlier this year in a deal handled by Mike Garbers of JLL Capital Markets. Previously owned by a not-for-profit, it was built in stages and now features approximately 300 units spanning the whole senior care spectrum. It was considered a value-add opportunity with some capex needs, and private ownership can usually come in and make some quick expense adjustments at a former not-for-profit operation. Indeed, a for-profit owner stepped in to buy the property at an undisclosed price. This was their first acquisition, but the principal does have experience in seniors housing operations. The deal apparently closed pre-COVID, so some... Read More »Schedule a demo
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