Unique Upstate NY Community Changes Hands
An independent living community with Enriched Housing Program beds sold in western New York for $4.0 million with the help of Dave Balow and Vince Viverito of Senior Living Investment Brokerage. The Enriched Housing Program (EHP) is a unique designation in New York State, appealing to a wider pool of potential residents than IL alone. Built in 1994, Manor House in Batavia, New York, has 89 independent living units and is additionally licensed for 60 EHP beds. It spans 3.6 acres and comprises 42,070 square feet. The privately-owned property was well maintained with extensive updates in 2009, and there is minimal local competition. It earned around $150,000 of EBITDAR on $2.9 million... Read More »
West Coast-Based Investor Acquires in Kentucky
The Bluegrass Assisted Living Portfolio, which comprises two performing seniors housing communities, sold to a West Coast-based investor. Located approximately 30 miles apart in Bardstown and Elizabethtown, Kentucky, the assets offer assisted living and memory care services. They will be managed by an operator with an existing presence in the state. Daniel Geraghty, Bradley Clousing and Matt Alley of Senior Living Investment Brokerage represented the seller, a Southeast-based owner/operator looking to exit the Kentucky market and concentrate on its core geographic areas. This is the second time the team has sold this two-pack. Read More »
Investor Group Acquires in Oregon
Silver Wave Capital announced its fourth acquisition in the last 12 months, picking up a new seniors housing community in a suburb of Portland, Oregon. The firm, founded by Cory Wake and Elan Ruggill in 2024, made the acquisition with Sherman Capital Partners as a co-GP and another capital partner. Built in 2019, the Class-A community is located in Cedar Mill and features 110 units of assisted living and memory care. It was previously operated by Ciel Senior Living but will be managed by Compass Senior Living going forward under the name The Canopy. It opened as Fieldstone Cornell Landing, a brand that was developed and operated by Bourne Financial Group and Cascade Senior Living,... Read More »
Private Company Acquires Struggling Skilled Nursing Facility
Todd Okum and Nick Martinez of O&M Investments have acquired their seventh skilled nursing facility of the year. Built around 1985, the facility comprises 120 beds and sits west of Palm Beach County, Florida. The seller was a not-for-profit organization, with this divestment marking its exit from the skilled nursing sector, as it sold the last of its five- or six-facility portfolio. At the time of sale, the facility’s occupancy was hovering around 50%. Prior to the pandemic, it was around 80% to 90% occupied, but it struggled with post-COVID recovery. The buyer brought on a regional operator that will help restore the SNF’s census. Closing smoothly, the off-market transaction was... Read More »
Sellers Exit Seniors Space in Separate Transactions
Senior Living Investment Brokerage has had a busy start to the fourth quarter, announcing a slew of deals within the first few days. In one of the transactions, Toby Siefert, Ryan Saul and Patrick Burke were engaged in the sale of a portfolio of three assisted living and memory care communities with a combined 214 units and 230 beds in southern New Jersey. The three properties, built in 1998 and 1999, were well maintained and offered an attractive mix of AL and special needs units, which are typically comprised of MC. The portfolio was 64% occupied at the time of marketing, which took place during the summer of 2024. Multiple offers were procured, with the selected buyer intending to... Read More »Schedule a demo
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