Brookdale Palmer Ranch SNF Featured in LevinPro M&A Database
The Brookdale Palmer Ranch Skilled Nursing Facility (SNF) in Sarasota, Florida, has been prominently featured in the LevinPro M&A deal database, indicating its involvement in a merger or acquisition. This Medicare-licensed private skilled nursing facility is situated at Palmer Ranch Parkway in Sarasota, Florida, and was incorporated on September 25, 2006. LevinPro, an esteemed source in the merger and acquisition tracking domain, monitors activity spanning over a dozen healthcare sectors, including hospitals, home health services, medical real estate, and biopharmaceuticals. The Brookdale Palmer Ranch SNF transaction is featured in LevinPro’s comprehensive deal database. The database... Read More »A Recap For The Clare
When Fundamental Advisors and Senior Care Development, together with the manager Life Care Services, purchased The Clare in downtown Chicago out of bankruptcy in 2012 (then known as The Clare at Water Tower), it looked like a risky bet for some people. After all, its reputation was sullied a bit with the bankruptcy, occupancy was low, and there were still people questioning the entrance-fee model of CCRCs. As usual, hindsight is 20-20. With some changes instituted by the buyers, The Clare soon thrived, with occupancy reaching 98% to 99% with a wait list prior to the pandemic. But then census dipped by 400 to 500 basis points during COVID. Other providers should have been so lucky.... Read More »Brookdale Senior Living For Sale, Again?
Whether it was leaked from Brookdale Senior Living, or from one of its advisors, or not, it was reported on Friday that the company was in talks with one or more advisors about a potential sale of the company. Forgive us if we yawn, but we have been through this before. Although, it was exciting to see a seniors housing company’s share price jump by 20% in a market that has not been kind to our industry, for how long it remains up is the important question. The shares had recently hit a 52-week low of $3.87, so jumping by 20% does not mean as much. This is especially true when one considers the fact that they walked away from a conditional indication of interest to buy the company four... Read More »Oklahoma SNF Sells to Regional Operator
Plains Commercial announced the sale of Hobart Living Center, a skilled nursing facility in Hobart, Oklahoma (Oklahoma City MSA). Built in the 1960s, the facility comprises 58 beds and sits on 3.7 acres. The seller is an Oklahoma-based operator that was looking to downsize its portfolio. The facility was sold to a regional operator with a geographic footprint in the area that was looking to grow. Daniel Morris of Plains Commercial handled the transaction. In April 2022, Mr. Morris sold three skilled nursing facilities in Tulsa and Cushing, Oklahoma that consisted of 243 licensed beds. That seller was a local operator looking to exit the industry, while the buyer ended up being one of the... Read More »Ziegler Announces Multiple Financings
Ziegler announced the closing of $42.4 million of Cinderella Bank Placement bonds and a $7 million taxable revolving line of credit for Rose Villa, an Oregon not-for-profit corporation. Operating as a CCRC on 21.5 acres just southeast of Portland, Oregon, the community comprises 261 independent living units, 16 skilled nursing beds and 16 residential care (assisted living) beds. In addition, Rose Villa’s Phase III project consists of 41 new independent living units, and a replacement supportive care neighborhood opened in July 2022. The Phase III project is 100% presold. The borrower will use the proceeds of the Series 2022 bonds, and other available funds, to refinance the Series 2014A... Read More »East Boston SNF Acquired by NY-Based Investor
An established skilled nursing facility up for sale in East Boston received six competitive offers before a New York-based real estate investment firm with a significant New England portfolio emerged as the buyer. Blueprint Healthcare Real Estate Advisors’ Steve Thomes, Ryan Kelly and Connor Doherty handled the transaction. Built in 1952 and expanded in 1965, Advocate Healthcare of East Boston operated with 139 beds (but was licensed for 165) and stands five stories tall. The seller was an owner/operator that invested in a substantial renovation of the adult day care wing as well as general improvements throughout the facility. Additionally, the facility received a Determination of Need... Read More »Optima Living/Axium Infrastructure Announce Major Canadian Acquisition
Optima Living and Axium Infrastructure joint ventured to acquire eight seniors housing communities from British Columbia-based H&H Total Care Services for approximately C$300 million (US$218.3 million), or $275,000 per unit (US$199,900 per unit). The portfolio comprises 1,092 units consisting of assisted living, independent living, skilled nursing and complex care, with an average building age of 10 years. Three of the communities opened in 2019. Two of the communities are in Red Deer and one is in Airdrie, Alberta. Five communities are in Kamloops, Surrey, Penticton, Duncan and Vernon, British Columbia. Mark Gallagher, BJ Bhal and Dave Kalinowsky of Newmark served as the broker on... Read More »VIUM Capital Closes Four Acquisition Loans
The acquisition loans keep coming from VIUM Capital, which closed out September with four closings totaling more than $120 million in volume. The largest bridge loan, reaching $47.73 million, financed an East Coast-based owner/operator’s purchase of seven skilled nursing facilities in Colorado. Built between 1957 and 2017 (averaging 1999), the portfolio comprises seven skilled nursing facilities and a total of 558 beds in the southwestern part of the state. Before the pandemic, the portfolio was 77% occupied and produced nearly $6.2 million in annual NOI. But throughout the pandemic, occupancy decreased to 65% and NOI dropped. In the end, the portfolio sold for $51.5 million, or $92,300... Read More »Health Care M&A On Pace for Record Year
Despite a volatile market, healthcare investors are undeterred. Inflation, significant labor issues and declining stock value are major headwinds that should be slowing down activity, but the past few quarters have shown the resilience of the healthcare M&A market. Nearly 1,800 healthcare deals were announced through the end of September, a steep increase from the 1,560 sales reported in the same period in 2021. This year will break records if activity continues at this pace. Investors and dealmakers announced 686 deals in the third quarter, representing a 5% drop from the 731 transactions reported in the second quarter. With all the headwinds hitting the industry, we expected a more... Read More »KeyBank Returns to Waltonwood Lake Boone
KeyBank Real Estate Capital secured a $53.1 million permanent loan from Fannie Mae for Singh Development, a real estate developer, for its Waltonwood Lake Boone senior living community in Raleigh, North Carolina. Built in 2018, the Class-A community comprises 181 total independent living, assisted living and memory care units. In 2019, Peter Trazzera of KeyBank originally provided a bridge loan for the community, but the new Fannie Mae financing will allow Waltonwood to recapitalize the community with a 10-year fixed rate loan and provide additional capital for future growth within their portfolio. Singh Development currently has 13 communities operating under the Waltonwood brand in... Read More »Schedule a demo
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