Ohio IL Community Trades for Value-Add AL Conversion
Blueprint was engaged in the sale of a 110-unit seniors housing community in Perrysburg, Ohio. It operated as an independent living community, but was positioned for conversion to assisted living, with a focus on serving waiver-eligible residents. Ben Firestone, Connor Doherty and Ryan Kelly handled the transaction. A buyer with a proven track record in executing value-add conversions and an existing Ohio footprint was ultimately selected. Read More »
Acquisition Financing Arranged for Regional Owner/Operator
Ziegler announced its role as the capital structure advisor and hedge advisor in the placement of a $52.5 million acquisition loan on behalf of a regional owner/operator. The acquisition financing was used to acquire five enhanced independent living communities in Michigan. The portfolio surrounds the Detroit, Michigan MSA, and has a total of 631 units with 695 beds. Christopher Utz advised and negotiated the transaction for the borrower and placed the loan with Oxford Finance. Ziegler’s Structured Products practice placed an interest rate cap through a competitive bid process, ultimately executing the cap with Goldman Sachs. Read More »
Harrison Street Secures Acquisition Financing
BWE arranged acquisition financing for a seniors housing community in Carlsbad, California. Ryan Stoll and Taylor Mokris led the financing effort on behalf of Harrison Street. Following a competitive marketing process, the sponsor obtained a 10-year, fixed-rate loan with a full term of interest-only payments from a national life insurance company. Oakmont Santianna comprises 153 independent living, assisted living and memory care units. Originally developed and leased-up by Oakmont Management Group, the property opened in 2022 and will continue to be operated by Oakmont post-acquisition. Since stabilizing, the community has demonstrated strong performance, currently operating at 95%+... Read More »
West Virginia Finds a Buyer for Four SNFs
Skilled nursing deals in West Virginia seem to attract a lot of attention, since it is a highly desirable state to operate SNFs and the small pool of facilities in the state simply means that they rarely come up for sale. But the governor, Patrick Morrisey, just announced that West Virginia has agreed to sell four state-owned skilled nursing facilities totaling 511 licensed beds that were losing around $6 million a year, according to the governor’s office. The prospective buyer is Marx Development Group, a New York-based real estate developer and manager that is focused on several real estate sectors, including hospitality, residential, commercial and healthcare facilities. The deal... Read More »
Three Separate Deals Close for PA and KY SNFs
Jeffrey Vegh and Joe Schiff of Forest Healthcare Properties closed three skilled nursing transactions. The first deal involved the sale of two skilled nursing facilities that sit near each other just outside Philadelphia, Pennsylvania. The cash-flowing assets total 242 beds. The seller was a New Jersey-based operator, and the buyer entered the state through the acquisition. Forest handled two additional closings, both in Kentucky. In Louisville, a SNF with more than 120 beds and an occupancy rate above 85% changed hands. The buyer was a large regional operator looking to expand its existing footprint in the state. The final transaction involved two SNFs in rural Kentucky, near the... Read More »Schedule a demo
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