Strawberry Fields REIT Announces SNF Acquisition
Strawberry Fields REIT acquired a skilled nursing facility with 100 beds near Oklahoma City, Oklahoma, utilizing cash from its balance sheet. The facility is leased to an existing third-party operator that entered into a master lease for this facility, as well as for another facility that Strawberry Fields acquired in December 2024 (a skilled nursing facility featuring 100 beds in Oklahoma). The lease includes annual base rents of $500,000 with 3% annual rent increases and an initial term of 10 years with two options of five-year extensions. The deal was revealed in the REIT’s first quarter earnings report, along with the closing of its purchase of six senior care facilities in... Read More »
Family Office Acquires Two Communities
Berkadia was engaged by a national owner/operator in its divestment of two seniors housing communities on Florida’s east coast. The communities are in Port St. Lucie and Port Orange with 171 assisted living and memory care units. The buyer was a central Florida-based family office. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders handled the transaction. The deal follows Berkadia’s other recent Florida closing, which was handled on behalf of a national owner/operator. The property was Abbey Delray, a 505-unit CCRC originally built in 1979 in Delray Beach that features 327 independent living units, 48 assisted living units, 30 memory care units and 100 skilled nursing beds on 25.66... Read More »
Kentucky SNF Sees Active Bidding Environment
Kyle Hallion and Ben Firestone of Blueprint were engaged to sell a 54-bed skilled nursing facility located 45 minutes northwest of the Lexington, Kentucky MSA, and successfully closed the deal on May 1, approximately 30 days prior to contractual closing. The facility offered a track record of strong occupancy with clear revenue upside via CMI improvement and expense controls through operational efficiencies. Kentucky also completed Medicaid rebasing in July 2024 that made the state more attractive to incoming owners. So, following the rebasing, Blueprint targeted regionally focused investors and generated seven written LOIs. The winning bidder, a New York-based owner/operator with a... Read More »
ESI Closes Record-Setting SNF Sale in North Carolina
A skilled nursing sale in North Carolina set a new pricing record in the state, with Evans Senior Investments handling the deal. ESI was engaged by an independent owner/operator to divest Smithfield Manor, a 160-bed skilled nursing facility in Smithfield, North Carolina (about 25 miles southeast of Raleigh). At the time of marketing, the 1975-vintage property was performing well, with occupancy above 80%. However, it offered a number of expense and revenue optimization opportunities for a strong regional operator to significantly improve performance. Through a competitive three-week marketing process, ESI attracted strong interest, ultimately securing a buyer aligned with the... Read More »
Growth-Oriented Buyer Acquires AL/MC Portfolio in Competitive Market
Blueprint handled the divestment of an assisted living and memory care portfolio dubbed Project Viking. The portfolio includes multiple well-located communities of newer vintage in Minnesota. Connor Doherty and Ryan Kelly handled the transaction. The opportunity presented the ability to acquire substantial scale in a state known for its highly regulated and competitive seniors housing environment, plus a recent increased to its Elderly Waiver Medicaid rate reimbursements. It drew significant interest from a range of national and regional buyers, and after a competitive process, the portfolio was acquired by a buyer focused on growth and long-term value creation within the upper... Read More »Schedule a demo
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