Carnegie Capital Secures Acquisition Financing For Washington State Portfolio
JD Stettin of Carnegie Capital is at it again, returning to the Pacific Northwest to close on acquisition financing for a portfolio of assisted living communities in Washington State. This closing comes just a couple of weeks after Mr. Stettin arranged $7.74 million in acquisition financing for four assisted living communities in rural Oregon. The details of that deal can be found here. Back to Washington State, where the four other assisted living communities are located. Previously owned by Enlivant, they totaled 185 units, but the new owner, a private fund based in Arizona, will initiate a conversion project resulting in 193 units, split between 87 for assisted living... Read More »
Recent Senior Care Deals, Week Ending June 19, 2020
Transaction volume may be light these days, but deals are still getting done. Check out our recent senior care M&A deals! Long-Term Care AcquirerTargetPrice Tryko PartnersHopkins Manor$14.5 million Tryko PartnersHarlee Manor/Springfield CommonsN/A Elevation Financial GroupKennington Pointe$26.5 million Cadence Living/Dylan InvestmentsTanner... Read More »
Ignite Medical Resorts Takes Over Oklahoma SNF
Ignite Medical Resorts formally took over operations of a short-term rehab/skilled nursing facility in Bartlesville, Oklahoma. Owned by Sabra Health Care REIT since 2014, this facility was previously operated by Vision Health, which chose to exit the industry along with its two other Oklahoma locations in Norman and Oklahoma City (also taken over by Ignite). Originally built in 1989, it was significantly renovated to become one of the more high-end, transitional care facilities in the market. All of the rooms are private and fitted with ensuite bathrooms, HDTVs and recliners. Amenities are also plentiful and range from full-service restaurant dining to a coffee shop to an on-site... Read More »
Tryko Partners Buys Two SNFs
With more than 4,500 skilled nursing and assisted living beds under management, plus another 2,000 independent living units, Tryko Partners, and its operating affiliate Marquis Health Services, is certainly becoming a senior care powerhouse in the northeast and mid-Atlantic areas. And they keep on adding to their portfolio, even during the pandemic. Most recently, they purchased a 173-bed facility on six acres in Springfield, Pennsylvania called Harlee Manor and Springfield Commons. The campus is located 12 miles west of downtown Philadelphia, and joins three other Tryko-owned facilities in the greater Philadelphia market. There are 100 skilled beds and... Read More »
Cadence Living and Dylan Investments Acquire Oregon Community
The M&A market is trudging along, and we suppose that is all we can hope for given the new risks facing the senior care industry and new hurdles for closing deals today. Scottsdale, Arizona-based owner and operator Cadence Living joint ventured with Dylan Investments, a boutique real estate investment firm based in Los Angeles, to acquire an assisted living/memory care community in an affluent suburb of Portland, Oregon. All parties involved had help on the deal, with Orix Securites representing the seller and Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors advising the buyers. Built in 1998 and having undergone a memory care conversion in 2016, the... Read More »Schedule a demo
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