Not-for-Profit Divests Texas Standalone MC Community to Family-Owned Company
Matthew Alley of Senior Living Investment Brokerage announced another Lone Star State deal, selling a 20-unit memory care community in Sugar Land, Texas. Built in 1998, the community was the only seniors housing asset of a not-for-profit organization, which decided to divest. It was 80% occupied but losing around $30,000 a year on $1.26 million of revenues. A local family-owned company will look to take advantage of its market presence to bolster census and improve the operating margin. They paid $1.6 million, or $80,000 per unit. Read More »
Owner/Operator Purchases Vacant Community for Reopening
Blueprint was engaged to market a 100-unit vacant assisted living community located 10 miles south of Cleveland, Ohio, that had been taken offline following operational challenges. The community sustained profitability during prior operations. Blueprint generated four competitive offers from sophisticated owner/operators with proven capabilities in executing value-add strategies. The selected buyer, known for opportunistic acquisitions, intends to reopen the community and fill it through the state’s Medicaid waiver program. Connor Doherty and Ryan Kelly handled the transaction. Read More »
Local Operator Acquires Vacant Seniors Housing Community
Senior Living Investment Brokerage facilitated the sale of a recently renovated, vacant seniors housing community in Sandy, Oregon. Built in 1962 and renovated in 2022, Mount Hood Senior Living features 44 assisted living and memory care units with 50 beds. It is situated on a 2.35-acre campus with 26,000 square feet. This was the seller’s only seniors community, and they are exiting the industry. The buyer is a local operator and will reopen the community. They paid $6.3 million, or $143,200 per unit, for the asset. Jason Punzel, Brad Goodsell, Vince Viverito, Jake Anderson and Taylor Graham handled the transaction. Read More »
Ohio IL Community Trades for Value-Add AL Conversion
Blueprint was engaged in the sale of a 110-unit seniors housing community in Perrysburg, Ohio. It operated as an independent living community, but was positioned for conversion to assisted living, with a focus on serving waiver-eligible residents. Ben Firestone, Connor Doherty and Ryan Kelly handled the transaction. A buyer with a proven track record in executing value-add conversions and an existing Ohio footprint was ultimately selected. Read More »
Acquisition Financing Arranged for Regional Owner/Operator
Ziegler announced its role as the capital structure advisor and hedge advisor in the placement of a $52.5 million acquisition loan on behalf of a regional owner/operator. The acquisition financing was used to acquire five enhanced independent living communities in Michigan. The portfolio surrounds the Detroit, Michigan MSA, and has a total of 631 units with 695 beds. Christopher Utz advised and negotiated the transaction for the borrower and placed the loan with Oxford Finance. Ziegler’s Structured Products practice placed an interest rate cap through a competitive bid process, ultimately executing the cap with Goldman Sachs. Read More »Schedule a demo
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