• Solera Grows through Acquisition of SageLife

    Solera Senior Living expanded its portfolio through the acquisition of SageLife. SageLife’s portfolio includes five high performing seniors housing communities in Maryland, Massachusetts and Pennsylvania. This acquisition brings Solera’s growing portfolio to 14 properties spanning nine states, including a growing concentration in the... Read More »
  • Joint Venture Acquires Class-A Seniors Housing Asset in Texas

    CBRE National Senior Housing acted as the exclusive advisor on the sale of a Class-A seniors housing community in the Houston, Texas MSA. Built in 2012, the community comprises 207 units offering independent living, assisted living and memory care services. CBRE National Senior Housing also arranged acquisition financing for the community on... Read More »
  • Owner/Operator Acquires in Illinois

    Evans Senior Investments arranged the sale of a supportive living community in the south suburbs of Chicago, Illinois. Waterford Estates totals 247 units with 170 independent living, 61 assisted living and 16 memory care units. The seller was a New York-based institutional owner seeking to recycle capital. Due to the scarcity of supportive living... Read More »
  • AEC Living Secures Financing

    Helios Healthcare Advisors structured the recapitalization of a 300-bed assisted living and skilled nursing portfolio in the San Francisco MSA. Facing a pending maturity with its existing lender, the borrower (AEC Living) engaged Helios to structure a refinance across two owned/operated assisted living communities and one skilled nursing property... Read More »
  • Massachusetts SNF Secures New Future in Behavioral Health

    Blueprint’s Behavioral Healthcare Team sold a vacant skilled nursing facility on behalf of a nationally recognized institutional REIT to a buyer that will convert the building into a behavioral health facility. The existing asset is in Agawam, Massachusetts, and was identified as a potential candidate for a behavioral healthcare provider due to... Read More »
Good Occupancy News From NIC

Good Occupancy News From NIC

There was some good news on the occupancy front, according the data just released from NIC MAP, but the assisted living sector isn’t out of the woods yet. Sequentially, seniors housing (including independent living and assisted living) saw a 30-basis point increase in occupancy to 88.0% for properties in the top-31 primary metropolitan markets. For primary and secondary markets combined, the increase was slightly more moderate at 20 basis points, sequentially, to 87.8%. When separating out the community types, independent living saw a 20-basis point increase to 90.2%, while assisted living rose 30 basis points to 85.4%. For stabilized seniors housing properties, occupancy grew to 89.8%, a... Read More »
August M&A Hits High Note

August M&A Hits High Note

If you have been following us this summer, you’ll know that after a torrid second quarter when we recorded 113 publicly announced transactions, M&A slowed significantly in July with just 26 deals. Even June was relatively slow with 31 deals, compared with 39 in April and 42 in May. However, similar to last year, the market rebounded yet again in August, with 40 announced acquisitions so far. Inevitably, more acquisitions will be unearthed that should push the total up. Seniors housing deals made up 58% of the monthly total and saw 128 total properties transacted. Brookfield’s acquisition of Australian senior living operator Aveo Group for approximately $860 million was easily the... Read More »
2019 Spending Volume on Track to Beat 2018

2019 Spending Volume on Track to Beat 2018

In total, across the senior care spectrum, nearly $1.9 billion was spent on acquisitions in August, split between $986 million for seniors housing properties and $898 million for skilled nursing. Despite August’s M&A resurgence, that dollar volume falls short of the $2.1 billion spent in June and the $3.2 billion spent in July. It should be noted, however, that deal volume (rather than dollar volume) is a better indicator of the market’s health. Will it continue into September? So far in 2019, investors have already spent over $12 billion on senior care properties, and that’s just in deals with publicly disclosed prices. That puts the sector on good footing to surpass the 2018 total of... Read More »
M&A Strong Throughout Healthcare Service Sectors

M&A Strong Throughout Healthcare Service Sectors

M&A may be booming in the senior care industry, but what about the other healthcare service sectors? In four just-published reports (which you can get here), we examined the Home Health Care & Hospice, Behavioral Health Care, Physician Medical Groups and Hospitals sectors. Two and a half years of deal comps are also in the back of each report. Private equity has driven much of the interest in these sectors, particularly the businesses with little government reimbursement, like dermatology, dental practices and ambulatory surgery centers. In fragmented sectors, like home health and behavioral health, many strategic buyers have also worked to build scale through a number of add-on... Read More »
Skilled Nursing Values Stabilizing

Skilled Nursing Values Stabilizing

You know us. We have always been bullish on the long-term prospects of the skilled nursing sector. You have read on these pages how investment interest never slowed even as average prices dropped in the past few years from the record peak of just over $99,000 per bed in 2016, a level that we thought was not sustainable, at least not in the short term. After two years of declines, there has been a slight turnaround. According to our rolling four quarters statistics, for the 12 months ended June 30, 2019, the average price per bed was $79,950, which is a 3.1% increase over calendar year 2018. This could just be a quirk in the numbers, as in a few higher prices in the second quarter of this... Read More »
Independent Living Values Continue Climb

Independent Living Values Continue Climb

Finally, after five years, independent living values appear to have returned to 2014 levels. According to the latest four-quarter period ended June 2019, the average price for independent living properties rose to $257,800 per unit, up 2.4% from the $251,800 per unit in the four quarters ended March 2019 and 8.3% from the $238,100 per unit in calendar year 2018. That level is also 4.5% higher than the previous record-high price of $246,800 per unit observed in 2014, according to the Seniors Housing Acquisition & Investment Report. Back then, many owners of high-quality, well-performing IL communities in high-barrier-to-entry markets saw high per-unit prices in the M&A market and... Read More »