Sellers Exit Seniors Space in Separate Transactions
Senior Living Investment Brokerage has had a busy start to the fourth quarter, announcing a slew of deals within the first few days. In one of the transactions, Toby Siefert, Ryan Saul and Patrick Burke were engaged in the sale of a portfolio of three assisted living and memory care communities with a combined 214 units and 230 beds in southern New Jersey. The three properties, built in 1998 and 1999, were well maintained and offered an attractive mix of AL and special needs units, which are typically comprised of MC. The portfolio was 64% occupied at the time of marketing, which took place during the summer of 2024. Multiple offers were procured, with the selected buyer intending to... Read More »
SLIB’s Slew of Closings
Senior Living Investment Brokerage shot out of the gates in the first few days of the fourth quarter, announcing more than a handful of deals. First, Vince Viverito, Jason Punzel and Jeff Binder facilitated the sale of two assisted living and memory care communities in Draper and Springville, Utah. The Draper community was built in 2018 with 108 units and the Springville community in 2016 with 81 units. They comprise 9.05 acres total with 106,147 square feet, along with adjacent parcels of land available for future development. These were the seller’s only seniors housing assets, as it was divesting to liquidate capital for other investments. The buyer is a REIT partnership with a... Read More »
NHI Invests in Oklahoma and Oregon
National Health Investors, Inc. invested $74.3 million, or $216,000 per unit, including transaction costs, for the acquisition of four properties with 344 units in Oklahoma and Oregon. The purchase price was partially funded by the cancellation of a $9.5 million mortgage loan with an 8.5% interest rate. The communities are expected to generate an initial yield of approximately 7.5% after routine capital expenditures. The properties and healthcare operations will be included in NHI’s SHOP segment and will continue to be managed by Compass Senior Living. This is a pre-existing relationship, with the REIT making its first investment with the operator last year. NHI has been looking for... Read More »
Class-A Community Trending Towards Stabilization Sells in Missouri
A Class-A assisted living/memory care community in O’Fallon, Missouri, sold thanks to Alex Florea, Kyle Hallion and Kevin Lukehart of Blueprint. Opened in 2018 with 134 units, The Landing of O’Fallon features two-bedroom, one-bedroom and studio options, with a number of units sharing Kory-and-Kyle bathroom configurations. It was purpose-built with a steel-frame construction, high-end finishes and resort-style amenities. The community sits in the affluent St. Charles County submarket of St. Louis, which has very strong demographic trends, but there were multiple competitors that either opened communities or will open them soon. But at the time of launch, the community had solid... Read More »
Joint Venture Grows Its Seniors Presence in Oklahoma
Stacked Stone Ventures, a real estate investment firm founded by Kent Eikanas, announced a new acquisition, adding a 147-bed CCRC in Oklahoma to its growing portfolio. Stacked Stone made the purchase with joint venture partner Praxis Capital and started a new relationship with the incoming operator, Sage Integrated Health. The campus operated around breakeven with occupancy in the mid-80s and a healthy Medicare census. It was previously owned by a not-for-profit organization, so we imagine there may be immediate upside from expense management. The joint venture bought the asset for $10.8 million, or $73,500 per bed. There are several other transactions in the works at Stacked Stone, so... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
