Recent Senior Care M&A Deals, Week Ending December 8, 2017
Check out our recent senior care M&A deals! Long-Term Care AcquirerTargetPrice National Health Investors, Inc.The Country Club of Woodland Hills$34.6 million Owner/operatorMaple Heights Nursing and RehabN/A American House Senior Living CommunitiesSuperior Residences at Bluewater Bay$24.5 million Accolade Health Care2 skilled nursing... Read More »
More Publicly-Traded REIT SNF Sales
Blueprint Healthcare Real Estate Advisors announced a slew of skilled nursing transactions at the beginning of December, closing five for clients (mainly publicly traded REITs) across the country. Ben Firestone and Mike Segal represented a publicly traded REIT owner in its disposition of a 119-bed SNF in Nashville, Tennessee for $16 million, or $134,500 per bed, which according to our database is the highest-valued SNF deal in Tennessee ever, on a per-bed basis. The recently upgraded facility was previously purchased in a portfolio, but it piqued the interest of a regional operator, which emerged as the buyer. The same public REIT seller decided to wind down its relationship with a... Read More »
Greystone Arranges Tulsa Transaction
National Health Investors announced a one-off acquisition of a 200-unit independent/assisted living community in Tulsa, Oklahoma, paying $34.6 million, or $173,000 per unit. Originally built in 1987 by a local real estate developer, the community was previously owned and operated by Triad Senior Living, which manages over 1,000 senior living units across Oklahoma, Illinois and Florida. Occupancy was strong, at 95%, but moving forward, Discovery Senior Living will take over operations under a lease with NHI for a term of 15 years, with renewal options, at an initial lease rate of 7.0% plus annual fixed escalators. NHI has also set aside $500,000 for capital improvements and funded the deal... Read More »
All In The Family
The phrase “it’s not personal, it’s just business,” doesn’t always apply. Sometimes it’s both. That was the case with Ben Firestone’s (of Blueprint Healthcare Real Estate Advisors) latest sale, which was sourced by his 90-year old grandfather. Still involved in the real estate business and showing up to work every day at 90 years old, Ben’s grandfather knew of a friend who owns a paper company in Houston, Texas but also recently decided to build a 98-unit assisted living/memory care community in the area, hiring a third-party manager at the same time. The lead paid off, as Mr. Firestone was able to sell the community (still in lease-up and 70% occupied at closing) to a private equity firm... Read More »
Nice Sale In Bluewater Bay, Florida
American House Senior Living Communities continued its growth in Florida with the acquisition of a 94-unit independent living community, its seventh senior living property in the Sunshine State. There are plenty of things going for this property. It is located in the mixed-use residential/resort community of Bluewater Bay, adjacent to Elgin Airforce Base. So, in addition to enjoying the local amenities, the property also draws some of its census from affluent retired military officers. There is also a large fifth floor bar and lounge, a movie theater, heated pool, full-service concierge and valet parking. It was developed in 2015 by a partnership between Bluewater Commercial Developers,... Read More »Schedule a demo
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