• Ensign Acquires Iowa Skilled Nursing Facility

    Nick Cacciabando and Ryan Saul of Senior Living Investment Brokerage helped an industry veteran in Iowa sell his last solely-owned senior care facility, finding a publicly traded buyer in the process. The facility in question was Crystal Heights Care Center, a 72-bed skilled nursing facility in Oskaloosa, Iowa, about one hour southeast of Des... Read More »
  • Investor Group Enters the Seniors Sector Through Idaho Purchase

    An assisted living/memory care community in Twin Falls, Idaho, traded with the help of Chad Mundy and Nick Stahler of The Knapp-Stahler Group at Marcus & Millichap. The campus opened in 1989 with an eight-unit building, and added two 15-unit buildings in 2009 and 2015, respectively. Some units were added to each building in 2023 and 2024, and... Read More »
  • Value-Add Owner/Operator Grows in Texas

    Amy Sitzman, Giancarlo Riso, Connor Doherty and Ryan Kelly of Blueprint got a seniors housing deal across the finish line in Odessa, Texas. Built in 2013 as part of an expansion to an adjacent CCRC, the building has 67 assisted living and memory care units. It had gone through multiple operator changes over the years. The deal was marketed as an... Read More »
  • Seller Divests Its Only Out-Of-State Asset

    Senwell Senior Investment Advisors facilitated the successful sale of a 100-bed skilled nursing facility in Pennsylvania. Built in 1987, the facility was developed by an Ohio-based operator as part of a broader growth initiative. Its occupancy rate was consistently strong, often exceeding 95%. It was the seller’s only out-of-state asset, leading... Read More »
  • Joint Venture Adds to Its Seniors Housing Footprint 

    Foundry Commercial and funds managed by affiliates of Fortress Investment Group acquired the RoseWood Village Assisted Living and Memory Care communities in Charlottesville, Virginia. The two communities, RoseWood Village at Greenbrier and RoseWood Village at Hollymead, will be operated by Foundry Commercial’s management company, Allegro Living,... Read More »
Independent Living Values Continue Impressive Rise

Independent Living Values Continue Impressive Rise

As the assisted living market is mired in a difficult operating environment, plagued with overdevelopment in some markets, heavy discounting and stubbornly low census, independent living continues to show its resiliency. According the our rolling four-quarter pricing multiples, a product of The Seniors Housing Acquisition & Investment Report, investors paid an average of $272,300 per unit for independent living properties in the last four-quarter period ending this September. That represents a 6% increase from the average of the four quarters ended June 2019 of $257,800 per unit, and a 14% jump from the calendar year 2018 average of $238,100 per unit. So, what could cause such a... 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 »