Michigan AL Communities Trade with Turnaround Potential
Madison Meiser and Bill Meiser of Meiser Commercial Real Estate completed two separate seniors housing transactions in Michigan. All parties involved had experience in the senior care sector, making the transactions smooth, aside from routine negotiations. The first transaction to close was in Plymouth. Built in 1980, the assisted living community featured 50 units and was licensed for 75 beds. The buyer, an owner/operator, has opportunities to reduce expenses and enhance the property’s value. At the time of sale, occupancy was 84%, and the community was operating at a loss. For the trailing 12 months ending February 2025, the property generated $2.36 million in revenues. A hurdle... Read More »
Not-For-Profit SNF Owner Expands in Texas
A large not-for-profit owner of skilled nursing facilities in Texas added another facility to its portfolio in the Lone Star State. Set in the town of Georgetown just north of Austin, The Wesleyan was founded in 1962 in collaboration with The Methodist Church, but the current 40-acre campus was built in 2008 and expanded its offerings to include a 142-bed skilled nursing facility, 240 units of independent living, 24 IL cottages and 84 units of assisted living and memory care. The owner decided to sell the standalone skilled nursing facility to Wellsential Health, which owns more than 60 facilities in Texas. Regency Integrated Health Services operates all of Wellsential’s locations.... Read More »
Phorcys Capital Partners Acquires AL/MC Community Through Receivership Sale
Phorcys Capital Partners acquired Village Veranda at Lady Lake, a 125-unit assisted living/memory care community in Lady Lake, Florida, adjacent to The Villages. Opened in 2019, the community was developed by Gordon Cos., Village Veranda Lady Lake LLC and SRI Management, which has operated the community since the start. SRI will stay on as operator. The property was acquired through a receivership sale, with Phorcys as the stalking horse. The deal marks Phorcys’s fifth seniors housing investment. The company is an alternative asset manager focused on investing in distressed assets and municipal bonds with strategic investments across senior living, multifamily, student housing and... Read More »
Ensign Acquires Iowa Skilled Nursing Facility
Nick Cacciabando and Ryan Saul of Senior Living Investment Brokerage helped an industry veteran in Iowa sell his last solely-owned senior care facility, finding a publicly traded buyer in the process. The facility in question was Crystal Heights Care Center, a 72-bed skilled nursing facility in Oskaloosa, Iowa, about one hour southeast of Des Moines. Set on a 12-acre campus, the facility was built in phases from 1975 to 1995 to 2017. The last addition consisted of a state-of-the-art rehabilitation wing with 14 private suites and a therapy gym at a cost of approximately $2.5 million. The wing stabilized within just a few months of opening. Total occupancy was around 87.5%, and the facility... Read More »
Investor Group Enters the Seniors Sector Through Idaho Purchase
An assisted living/memory care community in Twin Falls, Idaho, traded with the help of Chad Mundy and Nick Stahler of The Knapp-Stahler Group at Marcus & Millichap. The campus opened in 1989 with an eight-unit building, and added two 15-unit buildings in 2009 and 2015, respectively. Some units were added to each building in 2023 and 2024, and now, the campus totals 43 beds in 43 units, with 21,541 square feet. Occupancy was between 95% and 100%, and the campus generated well over $900,000 of NOI on more than $2.5 million of revenues. A new investor group entering the sector emerged as the buyer, paying an undisclosed sum for the community. At the release of contingencies, Mundy... Read More »Schedule a demo
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