HC-One Becomes Largest Provider in UK
It has been a few months since it was announced that Justin Hutchens would leave HCP, Inc. and join UK-based HC-One as its new CEO. That transition is expected to take place on October 1, and he will certainly have his hands full when he takes over from Chai Patel. HC-One just announced an agreement to acquire 122 senior care properties from Bupa Care Services, also based in the UK, for approximately £300 million, or $384 million. Over the past few months, the deal value was rumored to be in the £300 million to £450 million range, but that was for 150 properties, not the 122 that was agreed upon. Before this acquisition, HC-One was already the third-largest senior care provider in the UK,... Read More »Trying Out Transitional Care
Joint venture partners Harrison Street Real Estate Capital and Pisula Development Company (the development arm of RRC Medical Real Estate LLC) are venturing into the transitional care/skilled nursing space with the acquisition of a brand-new facility in Conroe, Texas. Featuring 150 beds in two stories, the transitional care facility was developed in late 2016 by the seller, an in-state developer relatively new to senior care, on about three acres adjacent to the 342-bed Conroe Regional Hospital Campus. We have historically known Harrison Street as a seniors housing investor, and Pisula Development has mostly focused on medical office buildings. But they have partnered with OnPointe Health,... Read More »
Blueprint Continues Its Streak In Kansas
Continuing its busy season, Blueprint Healthcare Real Estate Advisors announced another closing in the Midwest, following six other announced August transactions in the states of Ohio, Michigan and Kansas. In this latest closing, the team of Ben Firestone, Jacob Gehl and Michael Segal went back to Kansas to sell a couple of small assisted living/memory care communities in the southeastern part of the state. Built in the 1990s, the properties combined for 49 units and are the county’s only licensed providers of AL services. They were deemed to be non-core by the public REIT and private equity firm joint venture owners, following the JV’s portfolio acquisition of a number of AL/MC properties... Read More »Capital One Closes Two-Part Financing For Prestige Care
Presitge Care killed two birds with one stone in its latest transaction with Capital One. The Oregon-based owner/operator of senior care facilities in the Pacific Northwest received a $41.1 million first mortgage from Capital One to both finance the acquisition of four seniors housing and skilled nursing facilities (which was announced last August) and refinance three of its existing facilities. Capital One also provided a $5 million senior credit facility for general corporate purposes and working capital needs. Located in Wenatchee, East Wenatchee and Ellensburg, Washington, and Nampa, Idaho, the acquired communities, which were previously owned by industry veteran Carl Campbell, were in... Read More »Recent Senior Care M&A Deals, Week Ending August 18, 2017
Check out our recent senior care M&A transactions! Long-Term Care AcquirerTargetPrice Ohio-based owner/operator2 skilled nursing facilities$16.75 million Mozart HealthcareMaple Heights Retirement CommunityN/A Summit Healthcare REIT, Inc.9 skilled nursing facilities$60... Read More »Schedule a demo
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