• Value-Add AL/MC Community Trades

    An institutional owner decided to divest a non-core asset, and engaged Jason Punzel, Vince Viverito, Jake Anderson and Taylor Graham of Senior Living Investment Brokerage to run the sale process. The asset is located in Hillsboro, Oregon (Portland MSA), and features 36 assisted living and memory care units, with 62 licensed beds. It was built in... Read More »
  • Brookdale Divests California Community to Public REIT

    Blueprint was engaged by an institutional, national owner/operator in the strategic disposition of a large rental CCRC in Bakersfield, California. The 20-acre campus was developed in 1999 and provides the whole continuum of care, including independent living, assisted living, memory care and skilled nursing across three large buildings and... Read More »
  • Two Midwest Assets Trade

    A couple of seniors housing communities traded in the Midwest, selling to a couple of growing owner/operators. First, in the Indianapolis area, The Kiser Group’s Mark Myers and SVN | Senior Living Advisors’ John Klement led the sale of a 157-unit seniors housing community featuring a mix of independent living, assisted living and memory care... Read More »
  • Assisted Living Portfolio Closes in Wisconsin

    Bob Richards of Senior Care Realty recently completed the sale of a five-property assisted living portfolio in Wisconsin, closing the deal in multiple tranches. Richards had worked with the seller, AC Capital, for 15 years, helping them grow their portfolio over the years. AC Capital also has self-managed the communities for the last decade. Now,... Read More »
  • 60 Seconds with Swett: Here We Go Again

    AARP just published a report on assisted living, and all I can say is, here we go again. It concludes that “the state of assisted living today is cause for concern for many stakeholders. The lack of national federal standards for care centers creates an underregulated space.” It continues on, stating that the “absence of national oversight,... Read More »
National Health Investors Growing Yet Again

National Health Investors Growing Yet Again

Continuing its buying streak, National Health Investors added five new memory care communities and a new tenant relationship to its growing portfolio. The LaSalle Group developed these communities, located in Texas and Illinois with 223 total units, under the Autumn Leaves brand of stand-alone memory care communities. This isn’t the first time we’ve heard that name, as Autumn Leaves seemed to open a new community every other week in 2014/2015, concentrating in the Texas and Illinois markets. The openings keep coming too. Just this month, the operator opened its first South Carolina community in Greenville. There are two more projects scheduled to open in that state in the next two years,... Read More »

Assisted Living Acquisition in Acworth

An undisclosed institutional buyer purchased a 92-unit assisted living/memory care community in Acworth, Georgia, with the help of an acquisition loan arranged by Aron Will of CBRE. A life insurance company provided the $22.5 million financing, which came with a five-year term, a fixed interest rate and 24 months of interest only. This community has had a brief but strong operating history. Owned by CNL Healthcare Trust, it was developed by Solomon Development for about $2.8 million under budget (altogether, approximately $19 million, or $206,500 per unit). When it opened in July 2014 with 68 assisted living and 24 memory care units, it was already 50% preleased and reached 100% occupancy... Read More »
Cushman & Wakefield’s Deal Double

Cushman & Wakefield’s Deal Double

Showing off its range of services, Cushman & Wakefield closed a couple of transactions for clients in both Minnesota and Arizona. First up, David Rothschild and Mary Christian sold a high-quality senior living community in Woodbury, Minnesota for $22 million, or $285,714 per unit. Welltower bought the community, which opened in June 2015 with 39 independent/assisted living units, 32 memory care units and six care suites. Oppidan Investment Co. developed the community and had brought in Ebenezer to manage it. However, the buyer will put in place new management, which we believe will be New Perspective Senior Living. Occupancy was heading above 80% at the time of sale. For more... Read More »
Mainstreet Health Investments’ Growing and Shrinking Relationship with Ensign

Mainstreet Health Investments’ Growing and Shrinking Relationship with Ensign

Based in Toronto, Ontario with a concentration of properties in Chicagoland and Texas, Mainstreet Health Investments Inc. (MHI) is entering the California and Arizona markets with an acquisition from The Ensign Group. Featuring 381 units/beds, the portfolio includes two post-acute/skilled nursing facilities and a senior living community in the Los Angeles and Phoenix markets. Ensign, which we typically see as a buyer, will continue to operate the properties, now under an absolute net master lease with an initial 20-year term and CPI-based annual escalators. In the past year, Ensign has expressed a desire to own the real estate of more properties of its portfolio, however this transaction... Read More »

Recent Senior Care M&A Deals, Week Ending March 10, 2017

Check out our recent senior care M&A transactions! Long-Term Care AcquirerTargetPrice VentasKoelsch senior living portfolio$137 million Chicago-based partnershipBrentwood Sub-Acute Healthcare Center$7.25 million Allied Services Integrated Health SystemMercy Skilled Nursing and Transitional Care UnitN/A Welltower Inc.Red Rock Senior Living$22 million  ... Read More »