Blueprint Closes Dallas-Area Deal
The COVID-19 pandemic was really ramping up in mid-March when Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors managed to close the sale of a memory care community in the Dallas-Fort Worth area of Texas. Featuring 60 units of assisted living and memory care, the community is located in an affluent area, with the median housing values more than 44% higher than the Dallas MSA average. Built in 1997 with over 44,200 square feet, the community targeted the middle market, but its occupancy was trending towards 75% at the time of the sale. It was also operating at breakeven. Working on behalf of the institutional owner/operator seller, Blueprint marketed the... Read More »
Newmark Sells Skilled Nursing Portfolio
Newmark Knight Frank sold a portfolio of six skilled nursing facilities in Arkansas earlier this month on behalf of CNL Healthcare Properties. There was a total of 868 beds, and according to CNL’s SEC filing, the reported price was $55 million, or $63,400 per bed. The facilities were built in the 1980s and 1990s and average occupancy was near 83% to 84%. An affiliate of Capital Health Group was the operator. An East Coast-based owner with operations already in Arkansas was the purchaser. Dave Fasano and Ross Sanders of Newmark Knight Frank handled the transaction. Read More »
Two Southeast Sales from Blueprint Healthcare Real Estate Advisors
The team at Blueprint Healthcare Real Estate Advisors announced a couple of deals that closed earlier this year. The M&A market was a little different back then, close to a peak in terms of pricing and definitely at a peak for activity. Seems like just yesterday. First, Ben Firestone, Michael Segal and Trent Gherardini sold a portfolio of three assisted living/memory care communities on Florida’s Gulf Coast. Featuring a majority-private pay census and historically operating near stabilization, the properties were recently impacted by the high level of new development in southwest Florida. Given what we have heard of the level of groundbreakings around Naples, Sarasota and Tampa, that... Read More »
Newmark Closes Deal in Florida
The team at Newmark Knight Frank closed a two-property deal in Florida for a total price of $48.85 million, or $270,000 per unit. The portfolio includes Summer Vista in Pensacola, which was built in 2016 and has 89 assisted living and memory care units with an envious occupancy rate close to 99%. The second property, The Crossings at River View, is located in Tampa. It opened in mid-2015 with 92 assisted living and memory care units and had occupancy below 85%. It was last sold in 2018 for about $24 million. Superior Residences had been the manager for the two communities. We have heard from other buyers that total revenues for the two communities were just... Read More »
Recent Senior Care M&A Deals, Week Ending March 27, 2020
Check out our recent senior care M&A transactions! Long-Term Care AcquirerTargetPrice Non-traded REITMemory care community in Southeast$21.775 million Mid-Atlantic-based owner/operatorBrookdale NorthportN/A Private equity firm3 assisted living/memory care communities in FLN/A Private investorAssisted living/memory care community in Greenville,... Read More »Schedule a demo
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