Tennessee SNF Changes Hands
Evans Senior Investments arranged the sale of a skilled nursing facility in Dresden, Tennessee, on behalf of the Weakley County Commission. Originally built in 1958 with expansions over the years, Weakley County Rehabilitation and Nursing Center features 136 beds and is 100 miles west of Nashville. At the time of marketing, the facility was struggling with a 47% occupancy rate and negative cashflows. Following the Weakley County Commission’s approval of the sale, ESI launched a targeted marketing campaign focused on highlighting the facility’s strengths and untapped potential, procuring multiple interested buyers. The chosen buyer, a regional owner/operator with holdings in neighboring... Read More »
Senior Care Portfolio Trades in Pennsylvania
Senior Living Investment Brokerage closed a five-property portfolio deal in Pennsylvania, featuring a mix of personal care and skilled nursing beds. Ryan Saul and Toby Siefert were engaged by the receiver to confidentially sell the facilities, which are located throughout northwestern Pennsylvania. They included Clepper Manor in Sharon, Kermitage Nursing and Rehab in Hermitage, Lakeview Personal Care in Darlington, Shelburne Personal Care in Butler and The Lakes at Jefferson in Mercer, totaling 156 independent living/personal care units and 159 skilled nursing beds. The properties varied in age, built between 1958 and 2017, but offered a new owner the chance to add to an established... Read More »
AL Community Trades in Oklahoma
A small assisted living campus in Oklahoma City, Oklahoma, traded in a receivership sale with the help of Amy Sitzman, Giancarlo Riso and Kory Buzin of Blueprint. Built in 1999, Dorset Place includes a standalone 36-unit assisted living building and a separate 33-unit memory care building. There was limited competition in the immediate market, and the property was well maintained. But a new owner could take over and implement expense control measures to stabilize the community’s operating cash flow. We imagine the property would come at a healthy discount to replacement cost, as a result. Blueprint procured three competitive offers, ultimately advising the receiver, Mike Flanagan, to move... Read More »
Dealing in D.C.
A small assisted living community in an affluent suburb of Washington, D.C., sold thanks to Ben Firestone, Steve Thomes and Kory Buzin of Blueprint. Owned by a not-for-profit based in D.C. that deemed the sub-50-unit asset to be “non-core,” the property had struggled operationally since the pandemic, but the “exceedingly rare location” of the real estate attracted a lot of attention from both seniors housing and alternative use buyers. Blueprint’s marketing process yielded several competitive bids before one of the alternative-use bidders emerged with the highest and best offer. They structured an agreement that addressed all the unique complexities associated with the use... Read More »
Ohio SNF Portfolio Trades
Walker & Dunlop’s Gideon Orion recently handled the sale of a four-building skilled nursing portfolio in Ohio. Located around the Columbus MSA, the portfolio consisted of approximately 400 beds and was previously owned by a publicly traded REIT. Built from the 1970s to the 1980s, the facilities were being sold because the REIT’s operating partner was exiting the state. The portfolio was competitively bid by at least six bidders before a national owner/operator with a presence in Ohio and in the specific submarket was selected as the ultimate buyer. The seller chose them for their expedited timeline, price, and the terms of their offer in securing the transaction. Orion closed the... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
