A lot of people have been nervous about the skilled nursing sector recently, given the deteriorating finances at HCR ManorCare and other companies. However, that has not seemed to impact acquisition prices in the market, at least for the better facilities and facilities in general in attractive markets. Genesis Healthcare is another company that has […]
Amid rumors that a moratorium has been placed on large Chinese companies making significant purchases in the U.S. senior care market (like Zhonghong Zhuoye Group Co Ltd.’s proposed acquisition of Brookdale Senior Living), Hong Kong-based Chevalier International Holdings Ltd. continues to invest, recently adding two more senior living communities and 299 units in the Detroit, […]
A 247-unit CCRC in Downers Grove, Illinois (Chicago MSA) is in line for a massive $150 million redevelopment of its campus. In the first phase breaking ground this Fall, the owner, not-for-profit Lifespace Communities, Inc., will look to add 66 assisted living units, 28 memory care units and 102 skilled nursing suites, with private courtyards. […]
A vacation is a horrible thing when bad news hits the market. It is a horrible thing to go on vacation when all sorts of things are happening in the market, but such was the case last week. What I missed was the roll-out of earnings and the very disappointing occupancy numbers. For some, they […]
Why do investors, lenders and analysts focus so much on occupancy in seniors housing? Operating margin became much less important over the years compared with the absolute level of cash flow earned. This makes sense since a property’s value is derived from the cash flow, not the margin, and increased value from increased cash flow, […]
The rehabilitation and physical therapy M&A market has so far flown under the radar, even though the apparent need will only grow. Publicly traded companies are buying up inpatient rehab facilities, and private equity firms are building physical therapy platforms in major metro areas. But, the market is still very fragmented, which offers opportunities to […]
Three years after it opened in Tulsa, Oklahoma, an 86-unit assisted living/memory care community sold to an undisclosed buyer. To fund the purchase, Monique Bimler of KeyBank Real Estate Capital arranged a $13 million, or $149,400 per unit, Freddie Mac loan, with a 10-year term and 30-year amortization schedule. Legend Senior Living had developed the […]
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Joshua Jandris, Mark Myers and Charles Hilding of IPA Seniors Housing represented Morris County (New Jersey) in leasing its 283-bed skilled nursing facility in Morristown. The four-story facility had been struggling, losing as much as $3.8 million in annual EBITDA per year. It didn’t help that the county outsourced all aspects of operations. The facility is […]
Blueprint Healthcare Real Estate Advisors certainly has kept busy this summer, announcing four transactions in the last week. Connor Doherty closed two SNF transactions for Blueprint, both located in Ohio. The larger deal consisted of two facilities and 252 total beds, selling for a combined $16.75 million, or $66,470 per bed. The regional owner/operator seller […]