Multifamily Investor Enters Seniors Housing
Chad Wegner of Senior Care Realty facilitated the sale of a RCAC in Northeast Wisconsin on behalf of a long-term operator. The RCAC had been family owned/operated since inception, and the seller decided to pass the torch and enter retirement. Purpose built in 2014 and expanded in 2017, this well-maintained community features 19 individual apartments with a mix of independent living and assisted living services in the Green Bay market. It maintained high occupancy and was cash flowing at the time of sale with the seller operating near a 30% profit margin. After multiple offers, the selected buyer was a local multifamily investor with a nursing background that was looking to expand into... Read More »
SLIB Closes Sale of Remaining Guardian Healthcare Assets
The final three assets part of the Guardian Healthcare portfolio that fell into bankruptcy have sold after receiving HUD TPA (Transfer of Physical Assets) approval. Ryan Saul and Toby Siefert of Senior Living Investment Brokerage handled the sale. The whole eight-facility portfolio was originally marketed by Senior Living Investment Brokerage in the fall of 2023 and went into bankruptcy after the buyer’s operator was not approved by the state. Still, the original buyer eventually became the stalking horse bidder. The operations of eleven other facilities were also slated for transfer. Guardian cited “lingering effects of COVID, labor shortages, rising wage inflation, increased... Read More »
PE Group Acquires in Kentucky
Kyle Hallion, Connor Doherty and Ryan Kelly of Blueprint facilitated the sale of an assisted living community in Richmond, Kentucky. The community was built in 2009 and comprises 49 private units. The seller was a New York-based regional owner/operator divesting to strengthen its portfolio. The buyer was a Midwest-based private equity group looking to expand its regional operating presence. The group sees an opportunity to improve operational performance and leverage economies of scale. Read More »
Underperforming AL Community Secured for Behavioral Health Conversion
Blueprint’s behavioral healthcare team was engaged by a single-site residential behavioral healthcare provider in its search for a larger facility to meet its growth needs. The operator, a prominent first responder behavioral healthcare provider, acquired a former assisted living community near Park City, Utah, to expand its residential behavioral healthcare treatment capacity. The community was underperforming and primed for conversion given the ideal physical plant layout and substantial bed capacity. There was a limited geographic scope for relocation given the operator’s need to retain experienced and reputable staff in a lightly populated region. There were also zoning... Read More »
Berkadia Handles Two Seniors Housing Transactions
Berkadia closed the sale of two separate assets in Florida and Georgia. First, Berkadia was engaged by a national owner/operator in the sale of a CCRC in South Florida. The property appears to be Abbey Delray, a 505-unit community originally built in 1979 in Delray Beach that features 327 independent living units, 48 assisted living units, 30 memory care units and 100 skilled nursing beds on 25.66 acres. We understand that occupancy improved throughout the marketing process. Abbey Delray was previously owned by Lifespace Communities, and the buyer was a regional owner/operator. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders handled the transaction. This was Berkadia’s 10th... Read More »Schedule a demo
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