Recent Senior Care M&A Deals, Week Ending September 15, 2017
Check out our recent senior care M&A transactions! Long-Term Care AcquirerTargetPrice Strawberry Fields REIT LLCParkway Rehabilitation and Nursing Center$20.8 million Affinity Living GroupGolden PondN/A Real estate investorSeattle senior living community$24.5... Read More »Capital One Closes A Big One
Capital One flexed its banking muscles when it provided just over $551 million in financing to Kayne Anderson Real Estate Advisors (KAREA) for its purchase of Sentio Healthcare Properties. Announced back in May, the high-profile acquisition included all 34 of Sentio’s seniors housing and medical office properties, and was valued around $825 million. To fund the deal, Capital One provided KAREA a $251 million bridge loan and a $300 million Freddie Mac seniors housing revolving credit facility. We imagine a lot of time was spent on this large, complex transaction. Well done. Another Capital One deal came across the wires, albeit a little smaller than the KAREA deal. Joshua Rosen originated a... Read More »
Ray’s Latest Racine Closing
Ray Giannini of Marcus & Millichap facilitated the sale of a county-owned skilled nursing facility in Racine, Wisconsin (about 30 miles south of Milwaukee). Purpose-built in 1986, the 200-bed facility was 85% occupied, which is above average for the SNF industry, and features a good Medicare and private pay census. But, it was operating at a loss at the time of closing. The purchase price came to $10 million, or $50,000 per bed. For more information on this deal, check out the October issue of The SeniorCare Investor early next month. Read More »Go West, Young Broker
The team at Blueprint Healthcare Real Estate Advisors continued their successful year, completing two transactions on the West Coast. First up, Chris Hyldahl, Gideon Orion and Amy Sitzman represented a California-based regional owner/operator in its sale of two Arizona skilled nursing facilities to The Ensign Group. Included in the purchase was an 88-bed facility in Mesa built in 1978 and renovated in 2011, and a 115-bed facility in Tucson that was built in 1965 but expanded in 1974. Combined, they were approximately 68% occupied. Ensign ended up paying $15.25 million, or about $61,250 per licensed bed, for both the real estate and operations of the facilities. Its Arizona-based operating... Read More »HJ Sims and HUD Plus
Affinity Living Group recently purchased a 78-unit assisted living/memory care community in Winter Park, Florida (Orlando MSA), with the help of some extra funding arranged by HJ Sims. Sims utilized its HUD Plus program to arrange a $3 million subordinate loan, which supplements Affinity’s existing bridge loan, increases its leverage to 79% and will remain outstanding after the expected HUD take-out. The acquired community was built in 1999 originally with 60 units, but an 18-unit expansion was completed in 2008. It last sold in 2005 for $5.8 million to a financial buyer, who partnered with the existing manager. However, Affinity will take over operations, with a focus of improving... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
