New Jersey Buyer Acquires North Carolina SNF Portfolio
Mark Davis of Healthcare Transactions Group negotiated the sale of a skilled nursing portfolio in North Carolina. Two of the three facilities are located in the Raleigh-Durham market, in the towns of Henderson and Durham, while the third is located in the northeast part of the state near the Virginia border. They totaled 297 licensed beds. Representing the seller, Mr. Davis conducted a competitive and confidential offering process, ultimately selecting a New Jersey-based skilled nursing owner/operator with a presence in North Carolina and the rest of the Southeast. The final offer exceeded the asking price, making for a happy client we are sure. Read More »
Regional Operator Expands Its Southeast Portfolio
A not-for-profit provider of skilled nursing services in the Southeast deemed three of its facilities to be non-core, selling them to a regional operator. Located within an hour’s drive of one another, two of the facilities are located in the Hampton Roads, Virginia, market and one is just over the border in Currituck County, North Carolina. Totaling 429 beds, they were all built in the late-1980s and offered a value-add opportunity to the buyer, especially as a reliable partner for the seller’s hospital discharges in the area. Steve Thomes of Blueprint Healthcare Real Estate Advisors led the transaction, which generated eight competitive offers. The final purchase price was not... Read More »
Recent Senior Care M&A Deals, Week Ending July 19, 2019
Check out our recent senior care M&A deals. Long-Term Care AcquirerTargetPrice Baptist Homes of IndianaThe Barrington of Carmel$61 million National Health Investors, Inc.Legacy Commons of Pueblo West$7.5 million New Jersey-based owner/operator3 skilled nursing facilitiesN/A Local doctorThe Mount Vernon House$2.8... Read More »
When an EB-5 Investment Goes Wrong
Sometimes a brand-new physical plant and high-quality operator isn’t enough to keep a senior care facility from hitting financial difficulties. That was the case of a two-year old transitional care facility in Tucson, Arizona that just sold to a Chicago-based owner/operator in a transaction led by Amy Sitzman, Jacob Gehl and Humair Sabir of Blueprint Healthcare Real Estate Advisors. Developed at an approximate cost of $24 million, or $270,000 per bed, the 103-bed facility was not open for very long before it was placed into SEC receivership under the supervision of Thomas Seaman and Associates. Why? The group (unrelated to the operator) who raised the EB-5 equity for the project had... Read More »
Chicago Pacific Founders Acquires Pittsburgh Portfolio
Chicago Pacific Founders announced its second acquisition for July, following up on its purchase of a senior living community in Scottsdale, Arizona by picking up three senior living communities in the Pittsburgh, Pennsylvania market. One of the communities, in North Versailles, was opened in 2009 and is fully stabilized. The other two were opened more recently, in April 2017 for the Bethel Park community and just earlier this year for the community in Pittsburgh. So, cash flow was uneven across the portfolio. The two older properties are independent living communities, while the newest property also features personal care units. As usual, Chicago Pacific Founders’ operating subsidiary,... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
