Plains Executes in Texas
Plains Commercial Real Estate was brought on by a regional owner/operator in the divestment of its senior care facility in Texas. The seller was looking to consolidate its operations closer to its home office. The buyer is a private investor, and the facility will be operated by a large, Texas-based operator. Built in 2009 and well maintained, Copperas Hollow Nursing & Rehab comprises 90 skilled nursing beds and 12 assisted living units in Caldwell. At the time of closing, occupancy was hovering around 70%. The facility offered strong in-place cash flow as well as significant upside through some operational changes and agency expense controls. Daniel Morris of Plains handled the... Read More »
Momentous Healthcare Adds in Ohio
Forest Healthcare Properties was brought on by an Ohio-based owner/operator in a lease-to-purchase for a skilled nursing facility in Ohio. The owner was looking to divest from this region, and the buyer was Momentous Healthcare. Newly renovated, the facility comprises 100 beds with an in-house dialysis component near Cleveland, Ohio. The asset sits on 4.6 acres with 26,627 total square feet. Occupancy was low at the time of closing, so there is certainly some room for improvement for the new operator. But the lease-to-purchase structure gives them time to ramp up census and cash flow before taking over ownership. Joe Schiff and Jeffrey Vegh handled the transaction. Read More »
Not-For-Profit and For-Profit Shake Hands in Oregon
Ziegler was brought on by a not-for-profit in its divestment of a seniors housing community in Portland, Oregon, to a for-profit senior living owner/operator. Built in stages from the 1940s to the 1990s, Parkview Christian Retirement Community comprises 115 independent living units and 62 assisted living units across six acres. Humair Sabir, Stephen Johnson, Marie Carlson and Ryan Anders handled the transaction. The seller, Oregon Baptist Retirement Home Society, emphasized to Ziegler its desire for the community to be divested to a buyer that was culturally aligned and had a shared vision and values. Ziegler initially targeted not-for-profits, however, after an organization with a similar... Read More »
Two Members Added to Ventas Board
Ventas appointed two individuals to the company’s board of directors as a result of a new cooperation agreement with activist investor Land & Buildings. Ventas and Land & Buildings have expressed their differences throughout the last several years, however, the agreement seems to signal a ceasefire of their issues. Theodore Bigman is slated to sit on the board’s investment committee, and Joe V. Rodriguez, Jr will be on the board’s nominating, governance and corporate responsibility committee. Ventas also announced that the lead independent director for Ventas’ board of directors, Denny Shelton, is retiring. Following the appointments of Bigman and Rodriguez, the Ventas board... Read More »
New Owner, Same Operator For Two Utah Seniors Housing Communities
The Pennant Group, Inc. acquired two seniors housing communities in Utah. Capitol Hill Senior Living is a 113-unit assisted living and memory care community in Salt Lake City. Southgate Senior Living is a 75-unit assisted living and memory care community in St. George. Pennant has 104 home health and hospice agencies and, now, 53 seniors housing communities located across 14 states. It intends to continue pursuing opportunities to acquire high quality home health, hospice and senior living businesses throughout the United States. Read More »
Focus Healthcare Properties Acquires in Washington
Focus Healthcare Properties acquired two seniors housing communities in Olympia, Washington. Fieldstone Cooper Point is a 96-unit independent and assisted living community. Fieldstone Memory Care of Olympia comprises 45 memory care units. The in-place operator, Fieldstone Communities, which has managed both communities since development, will remain the operator. Read More »
SLIB Handles Ensign Acquisition in Kansas
The Ensign Group announced its acquisition of the real estate and operations of Atchison Senior Village Rehabilitation and Nursing Center, a 45-bed skilled nursing facility in Atchison, Kansas, with Nick Cacciabando and Ryan Saul of Senior Living Investment Brokerage handling the transaction. A subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate company, acquired the facility’s real estate, effective March 1, 2024. Gateway Healthcare, LLC, Ensign’s Kansas-based subsidiary, will take over its operations. Built in 1961, 1973 and 1993 (with a renovation in 1996), the facility was one of the last remaining county-owned nursing homes in the state. At 84% occupancy,... Read More »
The Ensign Group Surpasses 300 Operations
The Ensign Group added three more skilled nursing facilities to its growing portfolio, bringing its total healthcare holdings to more than 300 operations. In one of the deals, the provider acquired both the real estate and operations of Atchison Senior Village Rehabilitation and Nursing Center, a 45-bed skilled nursing facility in Atchison, Kansas. A subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate company, acquired the facility’s real estate, effective March 1, 2024. Gateway Healthcare, LLC, Ensign’s Kansas-based subsidiary, will take over its operations. Senior Living Investment Brokerage handled the sale. In a separate transaction on the same day, Ensign... Read More »
Performing SNF Sells in Delaware
Evans Senior Investments successfully sold a skilled nursing facility in Dover, Delaware. Courtland Manor was previously owned by an independent owner/operator that was represented by the Evans team. Built in 1986, the 70-bed facility boasted a consistent five-star CMS rating. It also maintained high occupancy rates, in the high 80% range prior to the pandemic and never dropping below 70% after it. But the owner decided it was a good time to exit the long-term care industry. They may have been right, with SNF values staying above pre-pandemic prices, on average, according to the recently released 29th Edition of The Senior Care Acquisition Report. Facilities with positive cash flow... Read More »
Montgomery Executes Two SNF Transactions
Andrew Montgomery of Montgomery Intermediary Group has wrapped up a couple of skilled nursing transactions in the Midwest, including a portfolio deal in Indiana. That transaction featured three skilled nursing facilities in the Indianapolis area, totaling 458 beds. The locations are outside of the previous owner’s footprint, and they wanted to focus on other states. Meanwhile, the undisclosed buyer is actively growing within the SNF sector across the country. They will be stepping into a value-add operation, as the facilities, which were losing money, are in need of a turnaround. The purchase price was not disclosed. Next, Montgomery was brought on to sell a 112-bed skilled nursing... Read More »Schedule a demo
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