Spring Arbor Living and Allegro Management Company Merge
Lisa Widmier of Vant.Age Pointe Capital Management & Advisory, which has executed several billion dollars in transactions under Widmier, facilitated the merger between Spring Arbor Senior Living and Allegro Management Company, which have come together under a new holding company, Allegro Living. Allegro Living will serve seniors in 53 seniors housing communities across 13 states in the Northeast, Mid-Atlantic, Southeast and Midwest. Spring Arbor adds its 35 communities and more than 2,200 units to Allegro’s 18 communities and more than 2,300 units. These communities will continue to operate under the same name and same team, as the goal of the merger is growth rather than... Read More »
Owner/Operator Divests Skilled Nursing Portfolio in Massachusetts
Evans Senior Investments (ESI) facilitated the sale of six skilled nursing facilities comprising 722 beds in Massachusetts. The seller was a Massachusetts-based owner/operator. The buyer is one aligned with the seller’s strategic goals, and emerged through a competitive three-week marketing process that attracted strong interest from institutional investors and regional operators. A key factor in the deal was ESI identifying more than $10 million in potential NOI. Read More »
Kentucky and Connecticut SNF Sell in Separate Transactions
Jeffrey Vegh and Joe Schiff of Forest Healthcare Properties handled two separate deals, one in Kentucky and one in Connecticut. First, in an off-market transaction, Forest facilitated the sale of a skilled nursing facility with 150 beds in Lexington, Kentucky. The facility had positive EBITDAR and cash flow at the time of the sale. After receiving five written offers from regional and local groups, the ultimate emerging buyer was a repeat client of both Forest and the seller, a large private healthcare group with an existing footprint in the state. This was the seller’s only asset in Kentucky. Next, Vegh and Schiff, in another off-market transaction, were engaged by a mom & pop... Read More »
Wachusett Healthcare Acquires in Connecticut
Waschusett Healthcare, a provider of skilled nursing and rehabilitation services in Connecticut, acquired Beechwood Post Acute and Transitional Care. Built in 1898, Beechwood is in New London, Connecticut, with 60 beds. The purchase price was not disclosed. Waschusett has served as a consulting partner to Beechwood for the past three years. Read More »
Greystone Provides a Rhode Island SNF Portfolio with Financing
Greystone provided $29.9 million in bridge financing for the acquisition of a portfolio of six skilled nursing facilities in Rhode Island. The bridge financing was originated by Ryan Harkins and Christopher Clare, both Managing Directors at Greystone. The skilled nursing facilities include Bayberry Commons (120 beds in Pascoag), Eastgate Nursing & Rehabilitation Center (76 beds in East Providence), South Kingstone Nursing & Rehab Center (112 beds in West Kingston), West Shore Health Center (149 beds in Warwick), Village House Nursing & Rehabilitation Center (95 beds in Newport) and Elmwood Nursing & Rehabilitation Center (70 beds in Providence). Read More »
Solinity’s Recent Announcement
Solinity, a seniors housing developer, named William H. Holly and John Moore as Partners in Development to spearhead investor relations in the growth of the company’s development and acquisition pipeline. Solinity has a $300 million pipeline for new development and community acquisitions in the southeastern United States for expansion in 2025. Josh Crisp, Founder and CEO, is the visionary of the development pipeline, which includes plans for multigenerational and mixed use age friendly communities designed to meet the needs of the aging population. With over three decades of industry experience, and a native of Coral Gables, Holly began his career with the Codina Bush Group before holding... Read More »
Activists Are Knocking On Brookdale’s Door
Not to toot our own horn (sorry), but very recently we predicted that Brookdale Senior Living’s growing percentage of owned properties would attract activist investors yet again. That, and the continued poor performance of its share price. It has now happened, again. Ortelius Advisors, which controls approximately 1.3% of Brookdale’s common stock, announced a slate of candidates for the Board that it will propose at Brookdale’s annual meeting later this year. Ortelius, like many other investors, has grown tired of the unfulfilled promises made and slow turnaround at the company, especially compared with the rest of the industry. The slate being proposed by Ortelius includes six... Read More »
Ziegler Handles Christian Horizons’ Portfolio Divestment
Ziegler announced its role as exclusive sell-side financial advisor to Midwest Christian Villages (doing business as Christian Horizons) in the sale of its senior living and care portfolio pursuant to Section 363 of the U.S. Bankruptcy Code. The sale of substantially all the company’s assets closed in multiple transactions on or before February 28th, 2025. Nick Glaisner handled the transaction. Christian Horizons was one of the nation’s largest not-for-profit, faith-based organizations and offered a comprehensive continuum of care that included over 1,200 independent living, assisted living, memory care, and skilled nursing units/beds. The organization served older adults in Illinois,... Read More »
Blueprint’s Recent Activity
Blueprint recently closed three transactions involving skilled nursing facilities. First, a legacy owner/operator engaged Connor Doherty and Ryan Kelly of Blueprint to facilitate the sale of a skilled nursing facility in Dayton, Ohio. Grafton Oaks comprises 99 beds and was cash flow negative at the time of sale. The seller was divesting their only asset to retire from the industry. Blueprint targeted a select group of well-capitalized investors and regional operators with a strong understanding of skilled nursing operations and Ohio regulatory considerations. Multiple groups expressed interest with the ultimate buyer being an owner looking to expand its presence in Southwest Ohio. The... Read More »
Ikaria Formalizing CareTrust REIT Relationship
Newly formed Ikaria Capital Group is formalizing an arrangement with CareTrust REIT to provide capital to the seniors housing and nursing home sector. The Ikaria team, which is led by White Oak Healthcare Partners alums Jason Dopoulos and Ken Gould, has worked with CareTrust on several debt transactions since 2022, and this marks a continuation of that relationship. The Ikaria team will also continue to provide debt origination, underwriting, and asset management services. CareTrust’s investment priority will still be on acquiring real estate through accretive transactions but will look to add to its debt investments, which can offer attractive yields. The REIT closed approximately... Read More »Schedule a demo
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