Omega Healthcare Investors Continues Improvement
It has been a slog for owners of nursing homes, but Omega Healthcare Investors continues to improve from the COVID messes it encountered. Major tenant LaVie, which entered into bankruptcy protection last June, paid its full monthly rent of $3.0 million from June 2014 through January 2025. And Maplewood, which ran into some serious problems, paid $4.5 million in rent in January and $12.3 million in the fourth quarter of 2024. The REIT is also growing, having completed $340 million in new investments in the fourth quarter, and $939 million for the full year. The fourth quarter investments included $179 million in real estate acquisitions and $162 million in new loans. The new loans... Read More »National Healthcare Corporation Dominates Tennessee Skilled Nursing Market
National Healthcare Corporation (NHC) has established itself as the largest owner of skilled nursing facilities in Tennessee, according to the latest Centers for Medicare & Medicaid Services (CMS) data. The Murfreesboro-based healthcare provider is affiliated with 34 skilled nursing facilities in Tennessee alone, highlighting its significant market presence in its home state. Extensive Portfolio Across Multiple States NHC’s operational footprint extends well beyond Tennessee, with a total of 89 healthcare facilities across eight states as of the most recent CMS reporting period. The company’s portfolio includes: 64 skilled nursing facilities 20 home health agencies 3... Read More »Honor X Enterprises Dominates Texas Skilled Nursing Market with 117 Facilities
Honor X Enterprises, LLC has emerged as the dominant player in Texas’s skilled nursing facility sector, controlling 117 facilities across the state according to the latest CMS data. The company’s portfolio consists exclusively of skilled nursing facilities, with all 117 properties located in Texas. This geographic concentration allows for operational efficiencies and specialized knowledge of local regulations and reimbursement structures. Honor X Enterprises maintains complete ownership (100%) of 114 of its 117 facilities, with ownership details for the remaining three facilities not specified in the available data. This high rate of full ownership indicates a preference for... Read More »GPN Family Trust Emerges as Major SNF Owner in Midwest
“GPN Family Trust U/A/D 04/28/08” has established itself as a significant player in the skilled nursing facility (SNF) sector across three Midwest states, with a particularly strong presence in Illinois and South Dakota, according to the latest CMS data. Portfolio Overview The trust currently owns 62 skilled nursing facilities across three states. Illinois represents the largest concentration with 42 facilities, followed by South Dakota with 14 facilities, and Iowa with 6 facilities. GPN Family Trust is one of the top owners of skilled nursing facilities in South Dakota, where it ties with other major owners including Doros Generation Trust U/A/D 1/3/12 and Legacy Healthcare... Read More »Prestige Care Dominates Oregon’s Skilled Nursing Market with 18 Facilities
Prestige Care Inc. has established itself as the dominant player in Oregon’s skilled nursing facility sector, affiliated with 18 facilities across the state, according to the latest CMS data. Market Leadership Position According to the latest Centers for Medicare & Medicaid Services (CMS) data, Prestige Care Inc. is affiliated with the largest number of skilled nursing facilities in Oregon, significantly outpacing competitors in the region. The family-owned company has built a substantial footprint across the Western United States, with a total portfolio of 32 skilled nursing facilities spanning five states. Geographic Distribution The company’s focus on the Pacific... Read More »
National Owner/Operator Acquires in Texas
Matthew Alley and Ryan Saul of Senior Living Investment Brokerage were engaged by a local independent owner in Texas in the divestment of its only skilled nursing facility, as he looks to exit the industry. He was leasing the property to a regional operator. Built in 1961 and renovated in 1994, Bender Terrace is in Lubbock, with 120 beds. It sits on 2.65 acres and comprises 45,664 square feet. It was 43% occupied at the time of sale. Under the previous ownership, the facility was making $4.19 million in revenues and $270,000 of EBITDAR, not including additional QIPP revenue. The buyer, a national owner/operator that operates several Texas SNFs, paid $5.85 million, or $49,000 per bed. ... Read More »
MIG Closes Five Separate Transactions
Andrew Montgomery of Montgomery Intermediary Group has reported a strong start to the year, closing four separate transactions, so far, and announcing an additional deal from October of last year. That one involved a 130-bed skilled nursing facility in St. Louis, Missouri. Built in the early 1900s, the facility was cash flowing with occupancy trending around 60% to 65% at the time of sale. The seller was an owner/operator that had been in the business for decades. Medicaid rates in Missouri are still on the lower end, but it was performing well for some time. The buyer was an owner/operator with SNFs across Missouri. Next were three transactions in rural Missouri that closed in late... Read More »
Sunny Hills Management Purchases in California
A couple of California seniors housing communities changed hands as part of a larger divestment strategy for the national developer/investor seller. Before the pandemic, that entity had purchased more than a dozen geographically disparate, older-vintage communities. But operational headwinds prompted a portfolio re-prioritization and de-levering effort. The owner engaged Kevin Lukehart, Alex Florea and Scott Frazier of Blueprint to create an exit strategy for the assets. The latest two communities to sell consisted of a 1986-vintage, 157-unit assisted living community in Corona, California, and a 1998-vintage, 101-unit assisted living and memory care community in Roseville,... Read More »
Illinois Owner/Operator Acquires AL Community
Daniel Morris of Plains Commercial Real Estate facilitated the sale of a seniors housing community in Sterling, Illinois. Built in 2001, Avonlea Cottage Assisted Living comprises 30 assisted living units and was being sold as part of a receivership process. The facility has been well maintained physically, but was in need of operational adjustments. Plains was engaged by the receiver, Mike Flanagan, to market and sell the facility. The buyer is Shepherd Senior Living, an Illinois-based owner/operator with a specialty focus on smaller, residential-feel assisted living communities with operations in Illinois and Wisconsin. Read More »
Majestic Care Acquires Ohio SNF Portfolio
Jeffrey Vegh and Joe Schiff of Forest Healthcare Properties sold a skilled nursing portfolio in Ohio before the end of January. This brings the team’s total number of facilities sold in the month of January to 20. The portfolio features six SNFs comprising 536 beds, all built around the 1980s. Average occupancy hovered between 85% and 90%. The buyer was Majestic Care, which has an already-established footprint in Ohio but was looking to expand in the state. Both the seller and the buyer were repeat clients. The purchase price was not disclosed. Read More »Schedule a demo
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