Grandbridge Hired to Sell CCRC
Grandbridge Real Estate Capital has been hired to sell a 329-unit CCRC in Port Washington, New York, on Long Island. The entrance-fee community opened in 2010 on 8.9 acres, and the current bankruptcy is its third, and hopefully, final Chapter 11 filing. It is a beautiful community that had bad timing, opening at the end of the Great Recession during a very weak housing market, restructuring its debt twice, and then had to face the pandemic. In 2019, average occupancy was 93%, but it dropped with the pandemic. The community has approximately 229 independent living units, 26 assisted living units, 18 memory care units and 56 skilled beds. In-place IL rents average $5,800 per month and the... Read More »
Physician Medical Group M&A Rebounds in Q2:23
M&A activity in the Physician Medical Group (PMG) sector increased in Q2:23, reaching a total of 148 transactions, according to data captured in LevinPro LTC’s sister platform, LevinPro HC. Activity in Q2:23 marks a 6% increase from Q1:23 when 139 acquisitions were reported but matches data from Q2:22 when 147 deals were announced. Private equity firms and their sponsored platforms remain the most active investors in the market, accounting for 62% of all announced transactions. PE firms targeted dental practices in more than a third of the transactions, making them the hottest vertical in the physician market, followed by eyecare providers. MB2 Dental Solutions, a portfolio company of... Read More »
Seniors Housing and Care M&A Activity Rebounds Above 100 Deals in Q2:23
The number of publicly announced seniors housing and care acquisitions in the second quarter of 2023 rose to 110 deals, based on new acquisition data from LevinPro LTC. This represents an 11% increase from the 99 transactions disclosed in the first quarter of 2023, but a 25% decline from the 147 deals in Q2:22. In addition, the $1.29 billion spent on Q2:23 transactions fell by 4% from the $1.345 billion spent on Q1:23 transactions and by 63% from the $3.5 billion spent in the year-ago second quarter, based on disclosed prices. “Despite spiking capital costs and liquidity issues in the debt markets, buyers and sellers closed more transactions in the second quarter” stated Ben Swett, Editor... Read More »
Home Health & Hospice M&A Activity Increases 20% in Q2:23
Merger and acquisition activity in the Home Health & Hospice (HH&H) sector increased by 20% in Q2:23, according to data captured in LevinPro LTC’s sister platform, LevinPro HC. Despite this growth, the second quarter of 2023 also had a 14% decrease in activity compared with Q2:22, when 28 HH&H acquisitions were announced. The most active subsector in the HH&H space was home health with 12 deals, followed by home hospice and palliative care and durable medical equipment/respiratory home care each with five deals and multi-service with two deals. Additionally, private equity firms and/or their portfolio companies represented 33% of the buyers in the HH&H M&A market... Read More »
Healthcare M&A Volume Jumps in Q2:23, According to Acquisition Data from LevinPro HC
Healthcare merger and acquisition activity increased nearly 10% in the second quarter of 2023, hitting 696 deals, according to new acquisition data from LevinPro LTC’s sister platform, LevinPro HC. Activity in the second quarter was 8% higher than in the first quarter, when 646 transactions were announced. However, it is a drop of 7% compared with activity in the second quarter of 2022, when 748 deals were announced. Activity in sectors such as Physician Medical Groups and Other Services drove much of the volume, with 148 and 136 deals, respectively. Demand for healthcare real estate, such as medical office buildings and properties, has driven high deal volume in the Other Services for the... Read More »Schedule a demo
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