Dakota Dealing
A private REIT based in North Dakota purchased a private pay assisted living community in Rapid City, South Dakota with hopes of improving occupancy and operations to increase value. Built in 2004, the 87-unit community was 85% occupied with a 20% EBITDAR margin in the trailing 12 months. The seller was an independent owner/operator, so the buyer should be able to introduce some economies of scale and professional management to the community. Evans Senior Investments handled the sale, closing the purchase price of $7.1 million, or $81,600 per unit. Read More »Recent Senior Care M&A Deals, Week Ending January 4, 2019
Check out our recent senior care M&A deals! Long-Term Care AcquirerTargetPrice Omega Healthcare Investors, Inc.MedEquities Realty Trust, Inc.$898 million Family Extended CareCrownPointe of Sebring & CrownPointe of Spring Hills$12 million Family Extended CareCentral Tampa Assisted Living$8.5 million Allegiant Healthcare17 skilled nursing... Read More »
Colliers Team Closes Two Florida Sales
Ken and Damien Carriero of Colliers International wrapped up their 2018 campaign with a couple of closings in central Florida. They found the same buyer for both acquisitions, the not-for-profit Family Extended Care which owns five other communities in the state. The first deal involved two assisted living communities previously owned by Americare Communities Florida, LLC. Located in Sebring and Spring Hills and operated under the CrownPointe brand, both communities were built in 1999. The 66-unit community in Sebring was 76% occupied and operated at a 23% margin on over $2.0 million of revenues, while the 40-unit Spring Hills community was just 65% occupied and operated at a 25% margin on... Read More »
The Ensign Group Is At It Again
The Ensign Group started off 2019 with a skilled nursing acquisition right in its wheelhouse. Located in southwest Utah, in the town of Cedar City, this 120-bed skilled nursing facility was just 50% occupied at the time of sale. That kind of turnaround opportunity seems to be Ensign’s specialty. Indeed, occupancy at its last couple of skilled nursing acquisitions ranged from 67% to 70%. So, they’ll hope to use that experience turning operations around at the Utah facility. Read More »
REIT Buys Three Repositioned SNFs
Improving occupancy and operating margins at a portfolio of three Pennsylvania skilled nursing facilities caught the attention of a REIT buyer and their experienced operating partner, which purchased the portfolio from a private investor. Located in the Scranton/Wilkes-Barre market, the portfolio consists of 416 licensed beds. Things were looking up for the facilities, which were recently substantially renovated to attract a higher quality mix from six regional hospitals. Combined, they were 85% occupied and generated $34 million in revenues, with a continuously improving operating margin. An operator with a considerable presence in Pennsylvania took over the facilities’ operations and... Read More »Schedule a demo
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