Recent Senior Care M&A Deals, Week Ending January 10, 2020
Check out our recent senior care M&A deals! Long-Term Care AcquirerTargetPrice NJ-based owner/operatorSkilled nursing facility in Boston, MA area$12 million Harbert Seniors Housing Fund II, L.P.The Pines at RocklinN/A Ithaca-based owner/operatorHorizon Villages$8 million American House Senior Living Communities/REDICOAmerican House WyomingN/A Regional owner-operatorCrest of Clemmons$5... Read More »
O&M Investments Announces Latest M&A Moves
It has been a busy year for Nick Martinez & Todd Okum of O&M Investments, having closed five acquisitions in three states. Earlier this year, the firm picked up an 88-bed skilled nursing facility in Orrville, Ohio (Cleveland MSA) that was operating around breakeven, a 104-bed SNF in Richardson, Texas with a wing recently converted to skilled memory care, and a portfolio of three skilled nursing facilities in the Columbus, Ohio MSA with 297 total licensed beds. In the fourth quarter of 2019, Messrs. Martinez and Okum closed two more purchases. First, in October they acquired a 120-bed skilled nursing facility in Fort Worth, Texas. Built in 1973, the facility was occupied in the... Read More »
SLIB Closes First 2020 Deal
Dave Balow just closed Senior Living Investment Brokerage’s first deal of 2020, featuring a 42-unit active adult community in Ithaca, New York. Built in 1986 with all cottage-style apartments, the community was well-maintained and boasts a long wait list. It’s not affiliated with Cornell University, but apparently a number of Cornell professors live there. Operations were strong, with a 46% margin on about $1.1 million of revenues, but its private owner was looking to retire. The buyer is an Ithaca-based senior living owner/operator group that has a strong senior living footprint in the area and is partnered with several individuals to further develop the adjacent land to add more... Read More »
People on the Move, January 2020
There were a few high-profile moves in the senior care world in the last month. JLL announced the addition of a new advisory and investment transaction services practice, to be led by Deborah Street. Coming from CBRE, where she was previously the Vice President of the National Senior Housing group, Ms. Street will join JLL as a Senior Vice President and leader of the new practice, which will provide on-demand underwriting, strategic planning, transaction structure/return analysis, transaction management, and due diligence, as well as ongoing asset management services. She will work with Managing Directors Brian Chandler and Bryan Lockard, JLL’s Co-Leads for the Seniors Housing Valuation... Read More »
CCRCs Are Not Dead, and Happy New Year
Two recent CCRC sales prove the point that this market can thrive. You know one of my favorite refrains by now. CCRCs are not dead. And two recent transactions prove my point. At the end of December, David Reis and his Senior Care Development, together with their equity partner Fundamental Advisors, closed on the sale of The Clare in downtown Chicago. This 338 unit/bed CCRC opened during the Great Recession and was forced to sell for 20 cents on the dollar with occupancy at 34%. Today, occupancy is at 98%, average entrance fees are back to $740,000, and they just sold it to LCS for about $320,000 per unit/bed. Talk about a great return on investment. LCS had been a minority investor and... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
