• 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 »
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 »
Assisted Living Values Continue Rebound

Assisted Living Values Continue Rebound

Every quarter, we take a look at the latest 12-month pricing multiples for the assisted living, independent living and skilled nursing markets as an added bonus to the Senior Care Acquisition Reports. Starting with assisted living, the market appears to have rebounded after the drop in value recorded in 2018. From 2018 to the four quarters ending on June 30, 2019, the average price paid per unit rose from $186,400 to $205,900, a 10.5% increase. The jump was smaller when comparing the four quarters ended March 2019, when we recorded an average price of $204,000 per unit. That market, which includes memory care communities, suffered from the woes of overdevelopment, not only affecting... Read More »
The Risk of Being Small in Seniors Housing

The Risk of Being Small in Seniors Housing

Size has consistently mattered when it comes to evaluating the risk of a seniors housing community, which includes independent living, assisted living and memory care. Bigger communities are able to use scale to trim expenses, which could be huge if you have to pay your employees a little more to both compete with other seniors housing competition or businesses in other sectors. Bigger communities, which are favored by institutional owners, can also absorb the pain of a few empty units better than smaller communities. That is not to say that smaller communities, with their “home-like” atmosphere and more personalized care, don’t have their advantages too. But the smallest communities,... Read More »
Independent Living Values Continue Climb

Seniors Housing Prices Jump, Skilled Nursing Continues Decline

Seniors housing prices saw significant rises in average prices in the 12 months ended March 31, 2019. Assisted living itself jumped 10% from $186,400 per unit in 2018 (according to our Seniors Housing Acquisition & Investment Report) to $204,000 per unit in the latest four-quarter period. Meanwhile, independent living rose a more moderate 6% from $238,100 per unit to $251,800 per unit, the highest level ever recorded for the sector. The small size of the IL market means that a few transactions can have an outsized impact on the average, but given the healthier occupancy and lower labor costs of the IL industry today, it makes sense that these communities have become more desirable.... Read More »
The 55+ Active Adult Market: The New Frontier of Seniors Housing

The 55+ Active Adult Market: The New Frontier of Seniors Housing

Judging by the number of questions we got during our May 16th webinar called “The 55+ Active Adult Market: The New Frontier of Seniors Housing,” it is safe to say that there is plenty of interest in this growing market. Our listeners tuned in to find out what prices active adult communities have been trading at, their cap rates, and what exactly operationally goes into this no-care and low-services senior living option. You can still listen here. Our Editor, Steve Monroe, and several experts that included Ryan Maconachy of Newmark Knight Frank, Ryan Frederick of SmartLiving 360 and Michael Hartman of Capitol Seniors Housing made up our panel, bringing in different perspectives on how to... Read More »
Pricing Age in Skilled Nursing Facilities

Pricing Age in Skilled Nursing Facilities

There are plenty of issues that come along with the aging of the skilled nursing facility inventory. Older facilities require more capex to keep operations up to snuff, have trouble attracting the coveted Medicare and private insurance patients, and often have far fewer private units but more three- or four-bed wards. In addition, it has to be more difficult attracting and retaining staff at an older facility, especially when a newer facility often comes with more bells and whistles in addition to newer technology that makes those employees’ jobs easier. Where would you rather work? So, in the M&A market, how did those older facilities fare compare with the newer ones? Well, there was... Read More »