Evans Senior Investments Sells Three Properties
The end-of-year rush of closings continued for Evans Senior Investments, which announced two more 2019 deals. The first involved a 94-bed skilled nursing facility in Lawrenceburg, Indiana (Cincinnati MSA) being sold by a local owner/operator. Built in 1983 and renovated in 2010, the facility was nearly 80% occupied and was operating at an 8% EBITDAR margin at the time of marketing. However, those financials exclude revenues the facility began earning in 2019 after joining Indiana’s UPL program with a local hospital. Acquired in December 2015, this was the seller’s only facility in the state, so a larger operator could capitalize on not only the new UPL revenue, but scale too. A national... Read More »
Recent Senior Care M&A Deals, Week Ending January 3, 2020
Check out our recent senior care M&A deals! Long-Term Care AcquirerTargetPrice Regional owner/operatorGoldenCrest Assisted Living Portfolio$12 million National owner/operatorShady Nook Care Center$9 million Not disclosed7 senior living communities$103.3 million Not disclosedOverlake Terrace Assisted & Senior Living$32.5 million Local buyerLas Villas Del... Read More »
Enlivant Sells Vacant Assisted Living Community
A vacant assisted living community in Caldwell, Idaho found a new owner and a new lease on life in a deal handled by Blake Bozett, Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors. Built in the late-1990s, the community was rebranded in 2016 by the seller, Enlivant, but eventually shuttered. A local owner/operator in good standing with the state will renovate and relicense the building for assisted living. This was their seventh acquisition in the state, and they paid in cash. Read More »
New Year, New Name for Senior Housing Properties Trust
While we were all up celebrating the New Year this past Wednesday, Senior Housing Properties Trust was kissing goodbye to its name, officially changing it to Diversified Healthcare Trust effective January 1, 2020. The company is still listed for trading on the NASDAQ but under the new ticker symbol of “DHC.” According to Jennifer Francis, President and Chief Operating Officer, the name-change better depicted the company’s portfolio of healthcare real estate (which encompasses medical office, life science and wellness centers in addition to senior living communities) and its strategy going forward. That fresh start was reinforced with the completion of DHC’s restructuring of its Five Star... Read More »
Cushman & Wakefield Closes California Sale
The Cushman & Wakefield team of Dave Rothschild and Mary Christian closed on the sale of an 87-unit assisted living community in California at the end of the year. The community was built in 1998 and most of the units are assisted living with 10 memory care units. It has been operated by a large national provider, and while the financial performance could have been better, we expect it to improve with the buyer. It is the first acquisition of RBP Communities, recently founded by Blake Parsons, who went out on his own after working in the family business, Parson’s House. Although pricing information has not been publicly disclosed, we suspect it was below the national average for... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
