Regional Portfolio Changes Hands
Blueprint announced two closings, with one in the Southeast and one in Pennsylvania. First, not-for-profit Ballad Health divested its senior care portfolio that was geographically concentrated in Eastern Tennessee and Southwest Virginia. The portfolio included four assets with regional concentration along the border of Tennessee and Virginia, including three skilled nursing facilities and one assisted living community, totaling 402 licensed beds. The portfolio presented an attractive opportunity for a regional-based owner/operator to achieve immediate scale with operational upside, while capitalizing on the strong referral relationships through the seller’s broader acute care health... Read More »
Cima Investment Group Acquires AL/MC Portfolio
SVN Senior Living Advisors announced the successful sale of a three-property assisted living and memory care portfolio in the Houston, Texas MSA. The transaction was completed on behalf of a national financial institution. The three properties comprise more than 200 units. Managing Director Josh Salzman led the transaction, supported by John Klement, Don Husi and Aaron Thompson. The assets attracted multiple qualified offers and ultimately sold for an undisclosed amount. Cima Investment Group (and its affiliated operating company, Cima Senior Living), a fully integrated investment platform focused on senior living, was the buyer. It is led by industry veterans and is known for its... Read More »
Family Office Purchases Midwest Community
For the second time in just 18 months, Evans Senior Investments facilitated the sale of Country Meadow Place, a 56-unit assisted living community in Mason City, Iowa. The seller was Jaybird Senior Living, a regional owner/operator that acquired the asset in 2024 for $13 million, or $232,100 per unit. Evans handled that transaction too. The community was well occupied at the time of the 2024 purchase, but the property has continued to perform well, achieving an in-place NOI margin of 36%. Through a competitive marketing process, ESI secured seven offers from institutional investors. The selected buyer was a private family office that paid $15.15 million, or $270,500 per unit. The... Read More »
60 Seconds with Swett: The Great Debates of Senior Care
Next week for our Second Quarter Investor Call, sponsored by Ziegler, we’ll be trying something different that is sure to be both entertaining and useful for our audience of operators, investors, brokers, lenders and everyone else. We’ll be tackling The Great Debates of Senior Care, covering some of the most important issues facing the industry. Like will we see a shortage of seniors housing units by 2030, or will consumer preferences and affordability limit future demand? Are cap rates currently too low and aren’t covering operating risk appropriately? Should you build or buy right now? What has been the most transformational new technology in seniors housing operations? And others. There... Read More »
Thank You Ortelius?
Brookdale Senior Living just reported June occupancy, and the increases were much better than we expected for a second quarter, which historically has been a mixed bag for the industry. Let’s just say, we were impressed. June’s same-community weighted average occupancy was 81.1%, up 220 basis points year over year and up 50 basis points sequentially. Month-end same community occupancy increased sequentially by 70 basis points to 82.8%. Occupancy levels have been steadily increasing since January, which is great for the company and shareholders. This is all happening before the third quarter, which historically has always been the best period for census gains. While shareholders should be... Read More »
SLIB Sells SNF in New Jersey
Toby Siefert of Senior Living Investment Brokerage got a skilled nursing sale in New Jersey over the finish line after survey issues caused a buyer switch-up. Built in 1980, Medford Care Center is located in the town of Medford (about an hour east of Philadelphia) and features 180 beds on an 11-acre campus. Operations were not strong, and the private owner decided to sell. The facility was marketed in the spring of 2024 and received several bids. However, just prior to closing the transaction in December 2024, there was a health survey that resulted in an admissions ban, receivership and the original buyer losing interest. With Siefert at the helm of the transaction process, the deal was... Read More »
Carnegie Capital Celebrates 10-Year Anniversary with Texas Portfolio Deal
Carnegie Capital, the national seniors housing debt brokerage founded and run by JD Stettin and David Farhadian, celebrated its 10-year anniversary with a $124 million, or $117,100 per bed, portfolio acquisition transaction. Carnegie provided a combination of advisory work and debt placement for the nine-skilled nursing facility portfolio with 1,059 beds across southern and central Texas. A private skilled nursing equity shop bought the portfolio three years ago, helped by debt arranged by Carnegie, and is now exiting the industry with the portfolio sale to a large REIT. The portfolio has been operating well since the 2022 acquisition. The REIT also spun off one of the largest SNFs... Read More »
12 Oaks Senior Living Appoints New CFO
12 Oaks Senior Living appointed Elliott Westerman as CFO, effective immediately. Westerman has more than two decades of leadership experience across senior living, healthcare, and real estate sectors. As CFO, Westerman will oversee all aspects of financial management, including financial planning and analysis, capital structure strategy, performance optimization, and technology integration. His appointment comes at a pivotal time for 12 Oaks, as the company continues to grow its regional footprint and scale its operational capabilities. Westerman has previously held CFO roles at Highgate Senior Living, The Hearthstone, and Stafford Health Services. Most recently, he served as CFO and... Read More »
Ensign/Standard Bearer Adds Two Facilities
The Ensign Group acquired a couple of skilled nursing facilities through its real estate subsidiary Standard Bearer Healthcare REIT. The first purchase was for Duncanville Healthcare and Rehabilitation Center, a 124-bed SNF in Duncanville, Texas, which will be operated by a third-party operator subject to a long-term, triple-net lease. Ensign also purchased Timber Springs Transitional Care in Boise, Idaho. The 120-bed SNF will be managed by Pennant Healthcare LLC, an Ensign-affiliated tenant. Read More »
HTG Closes Two Separate SNF Transactions
Healthcare Transactions Group (HTG) recently closed two transactions in Missouri and Maryland. The Show Me State deal involved Baptist Home of Independence, an 118-bed skilled nursing facility and 20-bed Residential Care Facility in the town of Independence. Built in 1977, the campus received a major renovation in 2021 and was 65% occupied. Baptist Homes of Missouri, a faith-based not-for-profit organization based in Jefferson City, Missouri, had acquired the campus in 2021. It later engaged Healthcare Transactions Group to evaluate and recommend strategic options, leading to the not-for-profit’s decision to divest one of its senior care facilities for the first time. HTG’s... Read More »Schedule a demo
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