Blueprint’s April Activity Continues
Continuing Blueprint Healthcare Real Estate Advisors’ busy deal activity in the last week, which included three skilled nursing closings on April 1st, the team of Amy Sitzman, Dan Mahoney and Blake Bozett sold a 36-unit assisted living community in Kennewick, Washington, in the eastern part of the state. Built in 1995 and featuring all private rooms, the private pay community recently struggled with occupancy because of key leadership turnover. The seller did work to increase census to over 90% throughout the transaction process, which created some good faith between parties that almost surely allowed for a smooth closing in the middle of the COVID-19... Read More »
Recent Senior Care M&A Deals, Week Ending April 3, 2020
Yes, deals are still getting done during these times. Check out our recent senior care M&A transactions! Long-Term Care AcquirerTargetPrice Regional owner/operatorMurray Highland Memory Care$5.2 million Not disclosedWelbrook ArlingtonN/A East Coast capital group/Los Angeles-based operatorof Washington Care Services$10.5 million East Coast capital group/Los Angeles-based operatorHeartwood Extended Healthcare$8 million Regional owner/operatorHallmark House Nursing Center$1.5... Read More »
April Rules for Blueprint Healthcare Real Estate Advisors
Shout out to Blueprint Healthcare Real Estate Advisors, which closed four deals this week. The deals were likely all but closed in the last month, but buyers and lenders have every reason to hit the pause button. So, to get a deal across the finish line is a feat. We’ll start with the skilled nursing deals. The team of Christopher Hyldahl, Gideon Orion, Michael Segal and Ben Firestone first sold a 150-bed skilled nursing facility in Kerrville, a central Texas town. It was built in 2006 and enrolled in the Texas Quality Incentive Payment Program (QIPP). Occupancy was in the low-50% range, but cash flow (before the QIPP revenue) was near-stable and trending upwards. After... Read More »
Senwell Facilitates Two SNF Bed License Sales
Ben Bohland of Senwell Senior Investment Advisors arranged a couple of skilled nursing bed license sales in the second half of Q1. First in Hamilton County, Ohio, Mr. Bohland sourced beds from two sellers in the area for one of the country’s largest SNF operators that was looking to increase capacity at one of its facilities in the region. The sellers were both downsizing their bed counts, one to repurpose a wing and the other to address low occupancy. Then in Franklin County, Ohio, Mr. Bohland represented a national seniors housing and care operator in its sale of a number of skilled nursing bed licenses due to a planned repurposing of its building. A regional... Read More »
SLIB Succeeds With Two Recent Closings
Senior Living Investment Brokerage announced two closings this week, one seniors housing and one skilled nursing. Starting with the SNF, Ryan Saul represented a private California-based owner in the sale of their 71-bed facility in Pekin, Illinois. A regional owner/operator with other facilities in Illinois paid $1.5 million or $21,100 per bed, for the property. Originally built in 1964, the facility was just 62% occupied at the time of the sale but boasted a 57% quality mix, including a 52% private pay census. Cash flow was negative at the time of the sale on nearly $4.24 million of revenues. The seller had inherited the day-to-day management of the facility from her late... Read More »Schedule a demo
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