SLIB’s Strong Start to August
There is certainly no summer slump for Senior Living Investment Brokerage, which started off August well with three closings. That activity included a portfolio of three well-performing seniors housing communities in Montana and Oregon selling to a West Coast not-for-profit. The properties are located in Sweet Home and Cottage Grove, Oregon, and Great Falls, Montana. Jason Punzel, Brad Goodsell, Vince Viverito and Jake Anderson represented the regional operator seller, which developed and recently remodeled the communities. Two were built in the late-1990s, and one opened in 2001. There are 190 assisted living, 77 memory care and 23 independent living units, with 332 total beds. The three... Read More »
Ensign Adds to Its Footprint
The Ensign Group announced three transactions, growing in Wisconsin, Iowa and California. First, through two separate transactions on the same day, Ensign acquired the real estate and operations of Pine Crest Health and Memory Care, a 120-bed skilled nursing facility in Merrill, Wisconsin (with 70% occupancy and a 19.5% quality mix), and Crystal Heights Care Center, a 72-bed skilled nursing facility in Oskaloosa, Iowa. Subsidiaries of Standard Bearer Healthcare REIT, Ensign’s captive real estate company, acquired the real estate for both facilities, which are operated by Ensign-affiliated tenants. The Giannini Group at Marcus & Millichap handled the Merrill sale. Also on the same... Read More »
Regional Owner/Operator Acquires Class-A Community
Blueprint facilitated the sale of a Class-A, cash-flowing seniors housing community in Glendale, Arizona. Built in 2015, the 85-unit assisted living and memory care community reflects institutional-quality construction and design, and has benefited from consistently strong occupancy. There was a competitive bidding environment, with nine offers secured. The seller was an institutional joint venture. The asset was ultimately acquired by a well-established regional owner/operator with a portfolio of nearby, directly competing properties. Their local presence and market familiarity are expected to unlock synergies and performance upside. Amy Sitzman and Giancarlo Riso handled the... Read More »
Ziegler Closes Acquisition and Bond Financings
Ziegler announced that it advised on an acquisition loan and closed a bond financing. Ziegler was 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 independent living communities in Michigan. The portfolio surrounds the Metro-Detroit MSA and has a total of 631 units and 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. Ziegler... Read More »
Private Equity Firm Divests Seniors Housing Communities to SNF Company
Senior Living Investment Brokerage’s Vince Viverito, Nick Cacciabando, Jeff Binder and Lucas Doll handled the sale of two seniors housing communities in Oklahoma. The communities are located in Mustang and Oklahoma City, both built in stages from the late-1990s to the late-2000s. They total 135 units of independent living, assisted living and memory care. These were the last seniors housing assets of the Denver-based private equity seller and were struggling with poor performance. The Oklahoma City asset was especially lagging with 52% occupancy (as opposed to 80% for the Mustang property). Given that situation, SLIB strategically decided to leverage an auction process to identify a... Read More »Schedule a demo
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