Diversified Healthcare Trust/Office Properties Trust Deal in Jeopardy
Last April 11, Diversified Healthcare Trust announced a merger (sale) with Office Properties Income Trust whereby DHC shareholders would receive $1.70 in OPI shares for each DHC share, then worth about $1.20 per share. Within weeks the shares plunged by 33% to $0.80 per share. They had been as low as $0.61 per share on December 22, 2022. We suppose management must have been desperate. Something didn’t smell right to a few investors, and shareholder Flat Footed LLC raised the red flag that this was not a deal in the best interests of DHC shareholders. And they fought it. They were not the only ones who decided the merger was not in the best interests of DHC shareholders. Now, three leading... Read More »
Assured Hospice Acquisition and Home Health M&A Trends – A Conversation with Alex Veach of Agenda Health
Agenda Health, a healthcare-focused M&A advisory firm based in Austin, Texas, advised Assured Hospice in its acquisition by Agape Care Group, a portfolio company of private equity firm Ridgemont Equity Partners. Agenda Health’s mission is to deliver consistent results with a faith-based, Christ-centered focus. Agape originally announced the deal in late June, but we were able to speak with Alex Veach, Director of Transactions Services at Agenda Health, to get an inside look into the Assured Hospice acquisition, as well as the home health M&A market as a whole. Based in Cartersville, Georgia, Assured Hospice provides physical, emotional and spiritual... Read More »
New Active Adult Community in The Works
America Walks, an Ohio-based multifamily development firm, is developing Encore at Tradition, an active adult community located in Tradition (a master-planned community within Port St. Lucie), Florida. This is being done with the help of a $95 million mortgage loan originated from Madison Realty Capital, a real estate private equity firm managing $11 billion in assets. Encore at Tradition will be comprised of 303 single-story, ranch-style villa units across 60 buildings and two multifamily buildings, connected by a 24,000-square foot clubhouse and amenity deck. Resort-style amenities will be offered, including a salon, sauna, walking/biking trails, golf simulator, sport courts and a... Read More »
Progress For Sonida Senior Living
Just like for almost everyone else, Sonida Senior Living had some good news to report for the second quarter as well as some areas that did not improve as much as maybe expected. But progress is being made to achieve stabilized occupancy, cash flow and operating margins. Even though weighted average occupancy increased by 120 basis points from the year-ago quarter to 83.9%, it declined by 10 basis points from the first quarter this year. For the sector, the second quarter has rarely been a good one for census, but other companies have been reporting increases for both the first and second quarters. The 8% rate increases have caused some move outs for financial reasons, but the increases... Read More »
New Class-A Seniors Housing Community Opens
Magnolia Bridge at Murrells Inlet, developed by Bourne Financial Group and operated by SRI Management, celebrated its grand opening in July after receiving its license to operate in June. Bourne is a real estate investment company specializing in seniors housing development, acquisitions, and asset management. SRI has independent living, assisted living and memory care communities throughout the Southeast. Magnolia Bridge is a Class-A community located in Murrells Inlet near Myrtle Beach, South Carolina, with 170 units of independent living, assisted living and memory care. The community stands four stories tall and is in close proximity to local boutiques. It has amenities such as... Read More »Schedule a demo
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