SLIB Closes Transaction Trio
Senior Living Investment Brokerage announced a slew of closings in the western United States, starting with a senior care campus in Douglas, Wyoming, in the rural eastern part of the state. Originally built in 1968, the skilled nursing portion (Douglas Care Center) was renovated in 2010, and the assisted living/memory care portion (Mountain Lodge) was added in 2018. The adjacent properties feature 74 units and 96 beds of assisted living, memory care and skilled nursing on nearly five acres. Occupancy was around 70%. Its local mom & pop seller decided to retire and divested the campus to a Utah-based regional owner/operator expanding its presence in Wyoming. Vince Viverito and Jason... Read More »
Sonida Senior Living Grows in Florida and Georgia
Sonida Senior Living acquired two seniors housing communities through separate transactions. In May, Sonida acquired a memory care community in Tarpon Springs, Florida. It was built in 2017 and features 64 units. This community complements Sonida’s recently acquired central Florida assets, bringing its Florida portfolio total to eight assets. The company will implement its Magnolia Trails personalized memory care services to activate the community while leveraging its regional sales and marketing support to drive occupancy. The purchase price was $11 million, or $171,900 per unit, funded with cash on hand and a new $9 million non-recourse mortgage from the asset’s existing lender.... Read More »
The Zett Group Sells Idaho Portfolio
A trio of small, well-performing assisted living communities in rural Idaho sold with the help of Blake Bozett and Spud Batt of The Zett Group. The pair represented a mom & pop who were looking to retire after nearly 25 years of operating. Terri and Carl Pendleton built the first 16-unit assisted living community in Gooding, Idaho, and added two more 16-unit buildings next to each other in Jerome, one focused on memory care that was built in 2011 and one assisted living building constructed in 2015. Together, they are known as DeSano Place Assisted Living. Occupancy was strong across the board, averaging over 90% across the last two years with a 95% private pay census. Under the... Read More »
JV Buyer Acquires Two Communities From Separate Sellers
Helios Healthcare Advisors structured the sale and arranged joint venture equity for the acquisition of two assisted living/memory care communities in Alabama on behalf of separate sellers. Helios was initially engaged by the Episcopal Diocese of the Central Gulf Coast to identify a buyer that would preserve the legacy of Murray House Assisted Living, a historic assisted living community located in Mobile, Alabama. Helios identified an operator with extensive experience in the industry that had recently established a new operating platform. However, faced with challenges associated with capitalizing the transaction, the buyer engaged Helios to assist in arranging an equity investment from... Read More »
South Denver SNF Finds New Owner
A non-performing skilled nursing facility in South Denver, Colorado, found a new owner thanks to Hap Knowles and Nick Stahler of the Knapp-Stahler Group at Marcus & Millichap. Built in 1965, Aspen Siesta features just 34 licensed beds. It was 64% occupied and generated more than $2.8 million of revenues from private pay, VA and other payor sources. But it was losing around $265,000 a year as of the most recent financials in 2023. Being a distressed, older vintage property, the facility could potentially attract interest from alternative-use buyers. So, Knapp-Stahler identified a behavioral health and substance abuse provider to purchase and convert the facility to that new use. That... Read More »Schedule a demo
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