Public REIT Divests to Regional Owner/Operator
Bradley Clousing and Daniel Geraghty of Senior Living Investment Brokerage were engaged to confidentially sell a senior living community in Maitland, Florida. The community comprises Savannah Court, which offers 102 units of assisted living, and Savannah Cove, which comprises 39 beds and 24 units of skilled nursing care. The seller was a publicly traded REIT, and the buyer was a regional owner/operator with strong experience in both SNF and AL assets. The buyer intends to conduct a robust physical plant upgrade immediately. This is a strong and attractive submarket within the Orlando MSA and the building improvements should be well-received. Read More »
Strawberry Fields Acquires in Kansas
Strawberry Fields REIT entered into a purchase and sale agreement with an unaffiliated seller for six senior care properties in Kansas. The purchase price is $24 million, or $68,000 per bed, payable at closing. The six properties include five skilled nursing facilities and one assisted living community, totaling 354 beds. They will be leased to Advena Living for an initial 10-year period, plus two five-year tenant options on a triple-net basis. Additionally, the lease will increase Strawberry Fields’ annual rents by $2.4 million and is subject to 3% annual increases. Strawberry Fields plans to purchase the properties utilizing its current working capital, and anticipates closing the... Read More »
Regional Midwest Management Company Acquires in Missouri
Senior Care Realty was engaged by a mom & pop in their divestment of a seniors housing community in the Kansas City, Missouri MSA. This was their only long-term care property and they are selling to enter retirement. Built in 1995 in several stages by the seller, with the last phase in 2008, the community comprises 69 independent living and assisted living units. The community was fully occupied at the time of sale with a waitlist, and is 100% private pay. It generated close to $2.1 million in income in 2024, running at a 36% margin. Sounds like a great operation. A regional Midwest management company, which is expanding to multiple states, bought the community and will look to... Read More »
CIBC’s Recent Activity
CIBC Bank USA provided a $16 million acquisition financing term loan and a $2 million working capital revolving line or credit for a portfolio of skilled nursing facilities in Vermont. Historical performance trended positively over the last year, as the facilities improved census and operating leverage. Fritz Kieckhefer and Kyle Doran handled the transaction for CIBC. Additionally, Kieckhefer and Doran of CIBC provided an Illinois owner/operator with a $5.2 million term to finance the owner’s recent acquisition of two skilled nursing facilities in central Illinois. The tenant had taken over operations in the middle of 2024 from a small local operator, and has since improved performance... Read More »
Ziegler Handles Providence Portfolio Sale
The Ensign Group, Inc. has agreed to acquire eight facilities in the states of Alaska, Washington, Oregon and California, subject to the completion of certain regulatory approvals and other closing conditions. This acquisition includes the real estate and operations and are being acquired from Providence Home and Community Care. The real estate assets for all eight facilities will be purchased by Standard Bearer Healthcare REIT, Inc. Six of the eight operations will be operated by Ensign affiliated operating companies and two facilities will be operated by a third-party tenant that will enter into a new, long-term triple net master lease with Standard Bearer as landlord. Dan Revie of... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
