Marcus & Millichap’s County-Owned Specialty
Marcus & Millichap’s newest senior managing director of investments, Joshua Jandris, along with Mark Myers and Charles Hilding, just sold their 30th county-owned skilled nursing facility. Located in Ballston Spa, New York, and owned by Saratoga County, the 277-bed skilled nursing facility was built in 1971 and 1972, with additions in 1978 and 1979. Occupancy was 95%, but we understand operations can be improved. That will be the job of the new private owner and its operating tenant. Read More »Recent Senior Care M&A Deals, Week Ending February 24, 2017
Check out our recent transactions! Long-Term Care AcquirerTargetPrice National Health Investors, Inc.2 assisted living communitiesN/A CNL Healthcare Properties II, Inc.Summer Vista Assisted Living CommunityN/A Not disclosedGolden Living Center of Jesup & Thomaston$16 million NHP Foundation-Urban Atlantic Fund I, LLCErrichetti Senior Portfolio$43... Read More »National Health Investors Partners Ravn Senior Solutions
National Health Investors continues to grow at a steady pace. In the last 10 months, the REIT has publicly announced seven transactions, comprising 43 senior care or seniors housing properties. Just last month, NHI acquired five seniors housing communities operated by Senior Living Management. Now, it is purchasing two assisted living/memory care communities in North Carolina and entering into a new operating relationship at the same time. The adjacent communities are located in the town of Hendersonville (about 20 miles south of Asheville), with one being built in 1999 with 26 AL and 13 MC units, and the second opening in 2002 with 47 AL units. NHI funded the transaction with borrowings... Read More »
KeyBank and Capital Health Group Team For Success
KeyBank Real Estate Capital pulled doubly duty for its client, Capital Health Group (CHG), in arranging an acquisition loan to fund the company’s purchase of three senior living communities in southeastern Pennsylvania, and then turning around to refinance the loan through multiple Fannie Mae financings. This is not the first we have heard of CHG’s most recent acquisition. Announced in January, the sale of the Keystone Villa Portfolio was arranged by Toby Siefert, Brad Clousing and Jeff Binder of Senior Living Investment Brokerage. The three properties, located between Harrisburg and Philadelphia, were developed by the selling entity, a group of local operators in Pennsylvania looking to... Read More »Not for this not-for-profit
A not-for-profit assisted living/memory care community in Bartlett, Tennessee (Memphis MSA) has gone private, after being acquired by a joint venture between a regional operator and a private real estate investment company. Built in 1989, the community is comprised of five 24-unit residential buildings along with an administrative building. An obstacle for the new operator is that the kitchen is located in the admin building, with warming stations in each resident building. Operations could also be improved, as the margin is currently 9.5% on approximately $4.29 million of revenues, and occupancy is just 83%. But since this was its only community in Tennessee, the Connecticut-based... Read More »Schedule a demo
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