Vacant Texas AL/SNF Community Trades Hands
Amy Sitzman and Giancarlo Riso of Blueprint were engaged by a repeat client in the divestment of its vacant senior care community in Waco, Texas. Last operated in 2018, the community closed due to the prior operator’s inability to service above-market rent payments. Built in 2015, the community comprises 106 assisted living units and skilled nursing beds and was well maintained by ownership. It sits on 6.7 acres, directly adjacent to Baylor Scott & White Medical Center – Hillcrest, the leading acute care provider in Waco. Blueprint advised the seller to move forward with a highly competitive all-cash offer that was submitted by a leading provider of transitional skilled... Read More »
Bob Jones University Divests AL/MC Community to Joint Venture
Dan Geraghty and Brad Clousing of Senior Living Investment Brokerage facilitated the sale of a seniors housing community in Greenville, South Carolina, on behalf of Bob Jones University. BJU is exiting the business to focus on its core values. With a solid long-term foundation of financial performance, the asset offers an opportunity to capitalize on existing cash flow with potential for profitability enhancement. Built in 1927 with renovations completed between 1960 and 2014, Shepherd’s Care Assisted Living and Memory Care Community sits on 5.7 acres with 60 units across 65,762 square feet. The community was 88% occupied at the time of sale. After reviewing several offers, the... Read More »
Cougar Capital Management Acquires in Tennessee
Berkadia sold the final property in a 16-property seniors housing portfolio, completed through 11 separate transactions over the past 12 months. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders represented the publicly traded REIT seller. The portfolio comprised 16 assisted living and memory care communities, totaled over 1,200 units and spanned nine states. Eight buyers, primarily regional or local owner/operators, acquired the properties within the portfolio. The final property, an 86-unit AL/MC community in the Knoxville, Tennessee MSA, was purchased by Cougar Capital Management. Read More »
Regional Provider Purchases in Michigan
Michael Segal and Daniel Waldhorn of Blueprint were engaged by a Michigan-based owner/operator to facilitate the off-market sale of two of its skilled nursing facilities in Michigan. The facilities were deemed geographic outliers, motivating the seller to shift focus to its holdings in metro Detroit and the greater Saginaw submarkets. The sale included 110-bed Aria Nursing & Rehabilitation in Lansing and 82-bed Allegra Nursing & Rehab Center in Jackson. At the time of sale, both facilities were generating positive cash flow with combined census and quality payor mix above 80% and 30%, respectively. Blueprint approached a limited number of potential buyers, procuring an... Read More »
Focus Healthcare Partners Secures Acquisition Financing
BMO’s Healthcare Real Estate Finance group closed on a $36.25 million facility for Focus Healthcare Partners to finance the acquisition of a seniors housing community in Bethesda, Maryland. Focus will bring on Solera Senior Living to manage the community. Built in 2019, Brightview Bethesda Woodmont comprises 92 assisted living and 21 memory care units and will be rebranded as Modena Reserve at Bethesda. Occupancy was around 86% when Focus acquired the community. Newmark handled this transaction and arranged the five-year acquisition financing, with a three-year interest-only period, from BMO. Read More »Schedule a demo
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