HTG Sells Henderson, Texas SNF
San Antonio, Texas-based ML Healthcare purchased a 125-bed skilled nursing facility in the town of Henderson, about 20 miles west of the Texas-Louisiana border. Built in 2008, the facility is laid out in a hub-and-spoke design on one story. It was 73% occupied and brought in approximately $7 million of revenues. This was the last facility of a family owner/operator that had sold its six other nursing facilities in Texas over the last few years. They retired following the closing, and the purchase price was not disclosed. Mark Davis of Healthcare Transactions Group handled the transaction. Read More »Blueprint Arranges Two SNF Transactions
After selling two other vacant Mainstreet-built transitional care facilities in Amarillo and Temple, Texas, earlier this year, Blueprint Healthcare Real Estate Advisors’ Amy Sitzman and Giancarlo Riso sold the third and final property of the group. Located in Beaumont, the partially-built facility has 70 units but was never completed before being foreclosed upon. Like the other Mainstreet facilities. Ms. Sitzman and Mr. Riso positioned the asset as a state-of-the-art building that could be acquired at an attractive basis. A Texas-based real estate investor emerged from a competitive bidding process, paying $8.7 million, or $124,000 per unit. They will lease the facility to an East... Read More »Ziegler Finances Chicagoland CCRC Expansion
Ziegler closed two series of revenue bonds for Plymouth Place, an Illinois not-for-profit that owns and operates a CCRC in La Grange Park, Illinois. Incorporated in 1939 on about 18.6 acres, the campus includes 182 independent living units, 52 assisted living units, 26 memory care units and 82 skilled nursing beds. Ownership wished to expand by building 59 new independent living units within one two-story building, two three-story buildings, one four-story building and related common areas, parking and equipment. The units are expected to open in early 2024. A connector building with additional common areas will also be built, along with outdoor amenities like a yoga lawn, bocce ball and... Read More »
60 Seconds With Swett: Healthcare M&A Market Losing Steam, Too
Our sister platform LevinPro HC tracks the M&A market across 12 other healthcare sectors, from hospitals and home health to physician medical groups and MOBs, with our deal database also going back to the early 1990s. And the trend in dealmaking that we are seeing in senior care appears to mirror the rest of the healthcare industry. Like in the seniors housing and care market, we have already broken the annual record for healthcare transactions, and there is still one month to go. As of this filming, we have tracked over 2,230 publicly announced transactions, surpassing the 2,209 transactions from all of 2021, which was the previous annual record high. A private equity rush into buying... Read More »BWE Closes $62 Million To Finance Five Seniors Housing Communities
Bellwether Enterprise Real Estate Capital LLC (BWE) announced it has closed $62 million in loans to finance five seniors housing communities in the Carolinas and New York. The properties consist of three assisted living and memory care communities in the Greenville, South Carolina market, one assisted living/memory care community around Charlotte, North Carolina, and a 150-unit affordable senior housing development in Kenmore, New York. The South Carolina communities were Fairview Park Senior Living of Simpsonville, Oakview Park of Greenville and Spring Park of Travelers Rest, and all received a $42.6 million Fannie Mae loan originated on behalf of the borrower, Atlas Senior Living.... Read More »
Evans Senior Investments Handles Indiana SNF Sale
Evans Senior Investments announced it has handled the sale of a skilled nursing facility in Osgood, Indiana (Cincinnati MSA). Built in 1981, Manderley Health Care Center comprises 71 beds and sold for $4.15 million or $58,500 per bed. The seller of the facility was an independent owner/operator. At the time of marketing, it was 58% occupied and not producing positive cash flow. At one point, occupancy dipped below 45%, however the owners of the facility were able to bring occupancy up to 59% at the time of sale. The buyer was an East Coast owner/operator expanding its presence in the state of Indiana. Evans Senior Investments handled the transaction. Read More »
The Ensign Group Buys Two SNFs in Colorado
The Ensign Group has acquired the operations of two skilled nursing facilities in the greater Denver, Colorado area. Brighton Care Center in Brighton comprises 108 beds and sits less than 15 miles away from the other facility, Malley Transitional Care Center, a 162-bed skilled nursing facility in Northglenn. They will be subject to a long-term triple-net lease, and Endura Healthcare LLC, Ensign’s Colorado-based subsidiary, will take over operations. This Colorado acquisition brings Ensign’s growing portfolio to 271 healthcare operations across 13 states. According to Levin Pro LTC, last month, The Ensign Group and its captive REIT Standard Bearer Healthcare REIT also acquired Prisma... Read More »
Meridian Capital Group Closes $1 Billion in November Transactions
M&A and financing activity may be declining in the face of rising capital costs, but Meridian Capital Group’s Senior Housing and Healthcare Team closed more than $1 billion in transaction volume in November for a combination of 47 facilities in nine states. The transactions were negotiated by Meridian’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson. One of the team’s largest closings was the sale of 12 assets in Pennsylvania and Virginia totaling 1,302 skilled nursing and 44 assisted living beds, for which they also arranged acquisition financing on behalf of the various buyers. Additionally, the team arranged the $102.5 million sale of seven skilled... Read More »
Public REIT Acquires North Carolina Senior Care Portfolio
A publicly traded REIT and its operating partner Saber Healthcare acquired a portfolio of five skilled nursing facilities and one assisted living community in North Carolina for an undisclosed price. The REIT emerged from a competitive bidding process that saw 16 total offers and was ultimately selected due to its likelihood of closing and of not renegotiating on price. Indeed the price, although not disclosed, did not change from the initial bid submitted at the end of August. That is impressive, and kudos to Brandon and Ben Bohland of Senwell Senior Investment Advisors for facilitating the transaction. Featuring 691 licensed beds, including 100 beds (in 77 units) at the private pay... Read More »
Euson Lindsay Health Acquires Indiana Skilled Nursing Facility
Already the owner and operator of a skilled nursing facility northwest of Indianapolis, Euson Lindsay Health LLC announced it has acquired another SNF in the Indianapolis area. The target, The Green House Cottages of Carmel, comprises 72 beds across six buildings and also includes short-term rehabilitation, memory care and long-term care. It has been in operation since 2016 and provides skilled nursing care in a “home-like” setting. With this acquisition, Euson Lindsay Health is now considered the largest owner and operator of the skilled nursing “small home concept” in Indiana, with two locations under the Restoracy brand. Read More »Schedule a demo
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