Well-Performing Facility Sells for Strong Price
A rare skilled nursing and behavioral health facility in Tucson, Arizona, sold for a strong price to a partnership between a regional healthcare equity investor and a national skilled nursing operator. Featuring 144 beds, the facility is licensed by the state for both medical and behavioral health services, being the only SNF in the Tucson area to be dedicated exclusively to behavioral healthcare. That helped contribute to its strong financial performance with healthy cash flow, as well as to investor interest in the listing. The facility also recently received capital enhancements. Henry “Hap” Knowles, Nick Stahler and Michael Mooney of The Knapp-Stahler Group at Marcus &... Read More »
Active Adult Community Secures Freddie Mac Refinance
An active adult community in Hurst, Texas, paid off its existing bank debt with a Freddie Mac refinance arranged by Berkadia. Heritage Village Residences was built in 2014 with 120 units, including 10 cottages. It was part of multiple acquisitions over the years, first in 2020 when Edison Equity Management Corporation bought it for $23.3 million and invested approximately $500,000 in renovations. As a result of the property renovations, management was able to significantly increase in-place rents. Then, in December 2022, Edison Equity sold the property to an out-of-state buyer in an “off-market” process with a local broker who represented an out-of-state buyer with an existing Dallas-Fort... Read More »
Upstate NY Seniors Housing Community Trades
Kory Buzin and Steve Thomes of Blueprint facilitated the sale of a seniors housing community in upstate New York that stakeholders were divesting to take advantage of positive performance trends and a strong M&A market. The Legacy at Cranberry Landing, a 95-unit independent living, assisted living and memory care community in Rochester, was constructed in 2004 and fully renovated in 2015. The community is licensed to accept Enhanced Assisted Living Residents. It experienced recent occupancy increases. Multiple offers for the community were procured, with a growing regional owner based in the Northeast selected as the buyer. There were issues between LOI and closing, but Buzin and... Read More »
Seniors Housing Investment Vehicle Acquires First Asset
Focus Healthcare Partners acquired Bellingham at West Chester, a 274-unit seniors housing community in West Chester, Pennsylvania. The investment is Focus’ first for its newest investment vehicle, Focus Senior Housing Fund III. The property sits on an 11.8-acre site 20 miles west of downtown Philadelphia. It comprises 208 independent living, 50 assisted living and 16 memory care units. Also located on the campus is a historical site, Washington’s Tavern, built in the 1700s as a barn for a mill farm, which has now been repurposed to a dining and event space for residents. LCS manages the property. According to LevinPro LTC, the community was previously sold by Walton Street Capital and... Read More »
Management Transfer Includes Purchase Option
A senior care campus in Waterloo, Illinois, secured a new operator thanks to Ray Giannini of Marcus & Millichap. Featuring 144 skilled nursing beds and 50 independent living units, Oak Hill – Senior Living and Rehabilitation Center was well occupied with a strong quality mix. It was owned by Monroe County, which wanted to retain the real estate of the campus. So, Giannini secured a long-term, triple-net lease with a new operating partner. The agreement included a purchase option. Read More »
Bank Provides Refinance to Family Office
BHI, the U.S. branch of Bank Hapoalim, provided a $29.0 million loan for the refinancing of an assisted living and skilled nursing facility in West Palm Beach, Florida. Gold Standard of Care Group, a Florida-based family office with a focus on healthcare and senior care and over $150 million in assets, was the borrower. Totaling 70,272 square feet, the property was originally built in 1995. Significant renovations were completed in 2023 and 2024. Amenities at the community include a salon, bistro, chapel, courtyard, concierge, game room, gym, library, transportation, lounges, private dining and a spa room. Colonial Assisted Living Management operates the facility. According to... Read More »
Owner/Operator Acquires Its Second Community
Unbridled Living, an owner/operator of independent living, assisted living and memory care communities across the United States, acquired its second seniors housing community, The Reserve at North Dallas. The Class-A community is in Dallas, Texas, with 247 independent living and 26 assisted living units. The building was in good shape, as the previous owner invested in capital improvements, and it was performing well. But there was still upside potential, with Unbridled Living planning to focus on improving operations, specifically dining and overtime, and increasing occupancy. The community will be rebranded as Unbridled Living of Dallas. This is the first investment made... Read More »
Not-For-Profit Sells Distressed SNF to Regional Owner/Operator
A not-for-profit seniors housing provider with a century-long legacy of serving seniors divested an underperforming skilled nursing facility in Marietta, Ohio. The non-core asset no longer aligned with the seller’s strategy. After a confidential marketing process, Connor Doherty, Ryan Kelly and Michael Segal of Blueprint identified a well-established regional owner/operator with a significant presence throughout Ohio to assume ownership and reposition the community. Despite the facility’s distressed performance, the transaction achieved a favorable outcome. Not-For-Profit United Church Homes announced the sale of The Harmar Place Community in Marietta to Foundations Health Solutions,... Read More »
Public REIT Closes Out Multi-Transaction Portfolio Divestment
Blueprint advised a public REIT on the sale of a portfolio of skilled nursing facilities across California, Florida and Virginia. The transactions were trifurcated by state, with the final closing in California. This SNF serves San Bernardino County, which has significant barriers to new development. At the time of marketing, the facility was approximately 90% occupied, generating more than $25 million in total revenue ($505 per-patient-day). Notably, it is the state’s only licensed SNF with a 50-bed specialty unit offering both dialysis and ventilator care. It was built in 1990. The facility maintains strong affiliations with Kaiser Permanente, California’s largest health system,... Read More »
Owner/Operator Acquires Revived Assisted Living Community
Helios Healthcare Advisors represented Investcor in its divestment of an assisted living community that it acquired in 2019. The community had sat vacant after its closure in 2007 until Investcor’s purchase. Post-acquisition, the company invested more than $8 million in renovations, with the building reopening in 2020. Fairhaven Denton Assisted Living is in Denton, Texas, on 3.3 acres. Fairhaven was originally envisioned by the Denton Business & Professional Women’s Club in the mid-1950’s and designed by Texas architect O’Neil Ford. The community began providing senior care services in 1965. Operating for over 40 years, the asset eventually fell into disrepair and struggled with... Read More »Schedule a demo
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