• Ziegler Handles Unique Operator Transition

    A high-end seniors housing community that caters to the Japanese-American population in the San Francisco, California, area completed a delicate operational transfer, with the help of Ziegler. Kokoro Assisted Living is located in the heart of San Francisco’s historic Japantown and is known for providing culturally sensitive care and an... Read More »
  • Brookdale’s Occupancy Keeps Improving

    It is a shame that Brookdale Senior Living did not do two years ago what it has been doing for the past nine months or so. Weighted average occupancy in August 2025 was 81.8%, up 70 basis points sequentially. This was the seventh month in a row the company posted an increase. Month-end occupancy in August was 83.2%, up 60 basis points... Read More »
  • Blueprint Closes Two Texas Portfolio Transactions

    During the NIC Fall conference in Austin, Blueprint announced a couple of portfolio transactions in Texas. First, Amy Sitzman and Giancarlo Riso facilitated the sale of five skilled nursing facilities located throughout the Texas Hill Country and Houston. All five facilities are within four hours of each other, offering scale and operational... Read More »
  • SLIB Handles Minnesota Receivership Sale

    A senior care campus in Pine Island, Minnesota, with some operational issues in the past has found a new owner thanks to Jake Anderson, Dan Geraghty and Ryan Saul of Senior Living Investment Brokerage. Set on 6.8 acres, the campus includes Pine Haven with 70 skilled nursing beds and Evergreen featuring 24 assisted living units. Pine Haven was... Read More »
  • PACS CFO Resigns

    PACS Group saw another potential setback to its public image, announcing that its CFO Derick Apt resigned on September 2 after it was determined that he had accepted a series of high-value items from individuals associated with a group of related entities with which PACS does business. The company was in the middle of its previously disclosed... Read More »
Skilled Nursing Values Hold Steady

Skilled Nursing Values Hold Steady

The skilled nursing M&A market has continued to surprise us. Despite numerous headwinds, especially involving the rising cost and scarcity of labor as well as the declining lengths of stay and census across the industry, buyers are still flocking to the sector. And as a result, they have kept values steady at just below $80,000 per bed. In the last four quarters ended September 30, skilled nursing facilities sold on average for $78,500 per bed, just slightly higher than the $77,500 per bed average price for 2018, according to The Skilled Nursing Acquisition & Investment Report. We should note this is a preliminary figure, as deals will inevitably float to the surface as the year... 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 »
Skilled Nursing Values Hold Steady

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 »