Ciena Healthcare Divests to Euson Lindsay Health
Connor Doherty and Ryan Kelly of Blueprint facilitated the sale of a senior care community in Goshen, Indiana. The seller, Ciena Healthcare, recognized the need for strategic repositioning, engaging Blueprint in the divestment. Built in 2018 and constructed under the Green House Project, an organization that focuses on non-institutional eldercare environments, The Laurels of Goshen features four homes with 12 residents per home (48 seniors housing beds) and 28 dually licensed Medicare and Medicaid skilled nursing beds. Blueprint approached one group with interest, Euson Lindsay Health, and they were ultimately selected as the buyer, rebranding the community as The Restoracy Goshen.... Read More »
Owner/Operator Purchases in South Carolina
Jack Osteen of Sherman & Roylance facilitated the sale of two skilled nursing facilities comprising 252 total beds in South Carolina. The facilities were previously marketed by a different brokerage firm in 2021. Built around 1980 and renovated in 1998, one of the facilities is in Florence and comprises 132 beds with an occupancy rate of over 75%. Built in 2008, the second facility is in Cheraw and features 120 beds with an occupancy rate of over 90%. The seller was a mom & pop with a 50-year history in South Carolina’s nursing care sector. The buyer is a leading operator with a growing presence in the Western United States. The deal was financed through private international... Read More »
Behavioral Health Buyer Takes Over Georgia Community
Bull Realty, a commercial regional real estate company, was engaged by Gryphon Senior Living in its divestment of a seniors housing community in Dacula, Georgia. Built in 2011, Hope Memory Care Community features 64 memory care units across 37,432 square feet on 3.44 acres. Gryphon originally bought the community a few years back for around $9.5 million, or $148,000 per unit. The community struggled with occupancy, despite good demographics. After Bull Realty was brought on to market the property, the bank sold the note. A potential CON sale was explored but did not pan out. When the note holder had control of the property, a separate potential buyer was brought in. The noteholder... Read More »
Joint Venture Divests to Private Owner/Operator
Blueprint was engaged by a joint venture between two national investors in the divestment of its seniors housing community in Pickerington, Ohio, that was acquired as part of a larger transaction. The buyer, which intends to reposition the asset as affordable seniors housing, was a well-capitalized private owner/operator seeking to expand and increase operational leverage in the Midwest. Built in 2009, the community comprises 86 assisted living and memory care units in a growing, but supply-constrained, suburb of Columbus. The community’s occupancy challenges post-COVID, in combination with its outlier geography and care mix, made it a non-core component of the broader transaction... Read More »
Minnesota AL/MC Community Changes Hands
An assisted living/memory care community in rural southern Minnesota found a new owner with the help of Ray Giannini of Marcus & Millichap. Built in 2017, Bridgwater at Janesville features 24 units. It featured a 90% waiver census and was fully occupied at the time of closing, generating strong cash flow, as well. The undisclosed buyer paid $4.2 million, or $175,000 per unit, for the asset. Read More »Schedule a demo
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