Recent Senior Care M&A Deals, Week Ending December 6, 2019
Check out our recent senior care M&A transactions! Long-Term Care AcquirerTargetPrice Maisons VivaltoFloralies Lachine & Floralies LaSalle$60.32 million The Ensign Group, Inc.4 skilled nursing facilitiesN/A The Ensign Group, Inc.Mission Palms Post AcuteN/A Senior Living WestOrangeburg Manor$4.5... Read More »
SLIB Sells Atrium Health Portfolio
Ryan Saul and Jason Punzel of Senior Living Investment Brokerage sold a portfolio of four skilled nursing facilities and three assisted living communities in Wisconsin that were placed into receivership in September 2018 when their for-profit owner/operator, Atrium Health and Senior Living, was unable to fulfill its financial obligations. SLIB was hired by a Wisconsin-based receiver to solicit offers, and the court approved the sale to a regional based owner/operator headquartered in Illinois with other communities in Wisconsin and the Midwest. The new owner plans to focus on building census by incentivizing local leadership and investing capital into the communities to attract quality... Read More »
Watermark Retirement Communities and JV Partner Acquire Two Assets
The joint venture between Titan Development and EverWest Real Estate Investors decided to sell two of its “Élan” assets in the Southwest. Each property features 77 assisted living and 36 memory care units, for a total of 220 units with 226 beds. The Austin, Texas property opened in late 2016, and just after, the Albuquerque community opened in early 2017 within the 60-acre Santa Monica Place master plan, which consists of 460 new, Class-A multifamily units (developed by Titan Development and Alliance Residential), a 130-unit independent living community operated by Resort Lifestyle Communities, and 150 new single family homes ranging in price from $275,000 to $400,000. Seems like a good... Read More »
Assisted Community Sells on Maryland’s Eastern Shore
Bob Gaines of Colliers International headed to Maryland’s Eastern Shore to sell a 32-bed assisted living/memory care community. Located in the upscale 55+ beach community of Ocean Pines, which features amenities like an 18-hole golf course, two marinas, five swimming pools, a yacht club, country club, tennis club, hiking trails and, of course, beach access, this property was previously owned by a well-known local operator. Built in 2001, it consists of two 9,600-square foot buildings, each with 16 private units. Mr. Gaines sold the property to a private owner/operator intent on improving the operating margin, which was apparently already strong. The purchase price came to $5.5 million, or... Read More »
Two More Tennessee Transactions From SLIB
After acquiring two skilled nursing facilities in Tennessee as part of a larger portfolio deal, a regional real estate owner, who focuses more on the CCRC market, decided to divest the properties with the help of Ryan Saul, Daniel Geraghty and Brad Clousing of Senior Living Investment Brokerage. Located about 60 miles southwest of Nashville, the Mount Pleasant facility has 72 skilled nursing beds and 30 independent living units. Built in 1980 with additions in 1982 and 1996, it was 85% occupied and was losing about $200,000 annually. Originally built in 1967 with a renovation in 1988, the Lenoir City facility (Knoxville MSA) features 104 beds with a vacant 16-unit assisted living portion... Read More »Schedule a demo
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