Stand-Alone MC Community Trades in Arizona
Blueprint represented an institutional seller in the sale of its stand-alone memory care community in the Lake Havasu City-Kingman, Arizona MSA. Built in 2009, the asset features 48 units with 60 beds and received approximately $2 million in recent capital improvements. There is opportunity for occupancy growth and rental rate optimization. The marketing process generated strong interest from a range of regional owner/operators, with the selected buyer being a real estate investor that partnered with an experienced operator looking to establish a presence in the market. The transaction was structured as a lease with a purchase option, marking the first deal between the newly formed... Read More »
Clarion Partners Continues Its Acquisition Streak
Clarion Partners continued on its acquisition streak, adding two communities in California to its growing portfolio. The latest deal featured The Commons on Thornton and The Commons at Union Ranch, two seniors housing communities totaling 198 units in California’s Central Valley. They were previously owned and operated by MBK Senior Living, which was represented by JLL’s Seniors Housing Capital Markets team in the deal. JLL’s Aaron Rosenzweig and Dan Baker led the transaction. Thornton was completed in 2004 and consists of a two-story building with 100 assisted living and memory care units in a variety of floor plans. It was 94% occupied. Built in 2008, Union Ranch offers 98 units of... Read More »
Multiple Senior Care Acquisition Financings Close
M&A transactions are getting done at a near-historic pace, and CIBC Bank USA recently financed three deals. The largest was $43.3 million in acquisition financing for two senior care assets in the Nashville area of Tennessee. The properties include a combined 310 independent living units, 273 skilled nursing beds and 93 assisted living/memory care units. Both buildings have an effective age of 35 years and reported an average occupancy rate of 75%. The financing was handled by Matthew Tyler and Neal Netzel with CIBC. Next, the same pair closed a new $5.7 million commercial mortgage term loan for a regional operator’s acquisition of a 114-bed senior care facility in North Carolina.... Read More »
Olympus Retirement Living Expands
The Zett Group closed the sale of a 63-unit assisted living/memory care community in the Boise, Idaho market. Set in the town of Emmett, Meadow View Senior Living was trending positively in its operations, but there was still some work to be done. An owner/operator engaged Blake Bozett and Spud Batt to sell the community to an undisclosed buyer. Olympus Retirement Living will take over operations. Read More »
Large Senior Care Portfolio Trades Hands
A portfolio comprising senior care assets across Washington State recently sold with the help of JCH Senior Housing Investment Brokerage. At first, only one of the assets was brought to market, but an offer emerged for the entire nine-facility portfolio. The price for the skilled nursing, assisted living and independent living campuses ranged from $70,000 per bed to $120,000 per bed, with a total price of $55 million. Cindy Hazzard handled the deal. No additional details have been disclosed. Read More »Schedule a demo
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