JCH Sells Marin County Assisted Living Community
Jim and Cindy Hazzard of JCH Senior Housing Investment Brokerage headed to Marin County, California to sell a boutique 29-unit assisted living community in the affluent town of Mill Valley. Originally constructed as a skilled nursing facility but converted to assisted living over 15 years ago, the community was underperforming with an operating margin around 14% on about $1.6 million of revenues. The physical plant was in good shape, and there was limited competition in the area, but the community was the seller’s last one in northern California. So, a little attention and a renovation should go a long way in improving operations. After a refurbishment, rents could also be raised to... Read More »
Meridian Capital Moves Past $2.3 Billion
Meridian Capital Group’s seniors housing and healthcare team is having quite a year, reaching $2.31 billion in transaction volume in 2019, so far. That volume is through a total of 63 transactions closed across 27 states for skilled nursing, assisted living, memory care and independent living properties. Helping achieve that impressive level, the group, which is led by Ari Adlerstein, Ari Dobkin and Josh Simpson, closed a couple of very large transactions in the last month, most notably a $241 million acquisition financing for 19 skilled nursing facilities and 2,175 total beds in the Northeast and Mid-Atlantic. The trio was also responsible for arranging the $157 million in financing used... Read More »
Blueprint’s Deal Bonanza
Was it just us, or did it seem like every time we left a meeting at the NIC Conference in Chicago last week, there was another Blueprint Healthcare Real Estate Advisors announcement in our inbox? We exaggerate…a little. The firm announced four deals during the conference, starting with one that we had learned about last month that saw Regional Health Properties sell four skilled nursing facilities in Alabama, Georgia and Oklahoma to affiliates of MED Healthcare Partners for $28.5 million. The existing operators were retained at all locations. Brooks Blackmon, Trent Gherardini and Ben Firestone led the way on the deal. Then, in Inman, South Carolina, Blueprint sold two skilled nursing... Read More »
Pardoll Closes Another Personal Care Sale in Atlanta Area
Marcus & Millichap’s Mike Pardoll sold yet another small personal care community in Georgia to Affinity Living Group, following his sales last month of a 23-unit property in Bainbridge (for $1.2 million, or $52,200 per unit) and a 36-unit community in Vidalia (for $1.3 million, or $36,100 per unit). Representing a private investor, he has most recently sold a 30-unit personal care community in the town of Dunwoody (north of Atlanta). Built in 1990, the property (which was operated by Sunrise Senior Living until 2010) was struggling with occupancy at 67% and had negative cash flow at the time of the sale on under $600,000 of revenues. Rents averaged about $2,800 per month, which was low... Read More »
Evans Senior Investments Closes Two Sales
Evans Senior Investments announced a couple of transactions last week. First, the firm represented a regional owner/operator in the sale of two senior living/skilled nursing properties in Michigan. Each community had positive cash flow at the time of sale, but with the potential for some improvement under new ownership. It should help that 100% of the senior living census at both properties was 100% private pay, and the skilled nursing featured a high mix of Medicare residents. Then, Evans headed to Anderson, South Carolina to sell a struggling skilled nursing facility on behalf of its single-asset independent owner/operator. Built in 1965, with additions in 1974 and 1980, the 181-bed... Read More »Schedule a demo
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