Recent Senior Care M&A Deals, Week Ending October 27, 2017
Check out our recent senior care M&A deals! Long-Term Care AcquirerTargetPrice Athena Health Care SystemsMasonicare at NewtownN/A Local familyCalifornia assisted living community$9.6 million Morningdew, LLCFlorida assisted living community$4.04 million Westminster Communities of FloridaGlenmoor$27.5... Read More »
Cushman & Wakefield Aces St. Augustine Sale
An amenity-rich senior living community just sold in St. Augustine, Florida, with the help of Allen McMurtry, Paul Carr, David Kliewer and Megan Fetter of Cushman & Wakefield’s Tampa office. Built in 2001, the community sits on about 40 acres in the World Golf Village and features 87 cottage homes, 70 independent living units, 36 assisted living units and 30 private skilled nursing beds. In addition to access to two world-class golf courses, residents also enjoy a clubhouse, heated outdoor lap pool, putting green, bocce court, pub and fitness center. Life Care St. John’s Inc., an affiliate of Life Care Pastoral Services, sold the property to Westminster Communities of Florida for $27.5... Read More »
The JCH Group Shows Its Range
Nick Stahler and Jim Hazzard of The JCH Group had their work cut out for them but got the job done, selling a 97-unit assisted living community in Fulton, California on behalf of a family trust. There are some issues the new owner will have to address, however. Built in 1976, the community is in need of some renovations, over $3 million, in fact, estimated by the buyer. The payor mix could also significantly improve, as the community is almost entirely made up of SSI (Supplemental Security Income) residents, which doesn’t necessarily help the bottom line. Every room can be double occupied, with an 88% census based on the 194 beds at the time of the sale. Lastly, owned and operated by a... Read More »
Masonicare Feels The Squeeze
After 34 years of ownership, Masonicare is selling its large skilled nursing facility in Newtown, Connecticut, citing many of the issues facing small SNF operators today as the reasons for its exit. The Connecticut not-for-profit currently operates a senior living community, a CCRC, a health center and a number of home health agencies throughout the state. But the skilled nursing facility in Newtown, which included 154 SNF beds and 55 assisted living units, had been losing money in recent years caused by declining census, rising patient acuity and tightening reimbursement. Athena Health Care Systems, a Connecticut-based specialty care provider with about 45 skilled nursing facilities in... Read More »
Care Investment Trust Partners With Phoenix Senior Living
Care Investment Trust joint ventured with Phoenix Senior Living for the second time this year, acquiring a 68-unit assisted living/memory care community in Albany, Georgia. Built in 1999, the community was formerly owned by the Phoebe Putney Health System, a not-for-profit health network in southwest Georgia. It now brings Phoenix’s operating portfolio to eight communities across the Southeast, not including three projects currently under construction. Jay Miele and Brady Stern of Hammond Hanlon Camp LLC advised Phoebe Putney on the transaction. Earlier this year, Care Investment Trust and Phoenix Senior Living partnered to acquired a 64-unit memory care community in Fayetteville, Georgia... Read More »Schedule a demo
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