Georgia IL/AL Community Changes Hands and Receives Financing
CBRE Capital Markets completed the sale and financing of an independent living and assisted living community in the Atlanta, Georgia MSA. The community, Arbor Terrace Peachtree City, comprises 146 units in Peachtree City and includes a host of amenities. The buyer was GEM Realty Capital, a Chicago-based real estate investment company with over $6 billion in assets under management. John Sweeny, Aron Will and Garrett Sacco represented the seller. Will and Michael Cregan also arranged an acquisition loan via CBRE’s Freddie Mac Optigo lending platform. Read More »
Evans Running Pennsylvania Bankruptcy Deal
Evans Senior Investments was hired to run a court-appointed sale of two skilled nursing facilities in Pennsylvania, with the sale hearing scheduled (in person and via Zoom) for March 15, 2024, at 10AM Eastern. Built in the 1980s and renovated in the 1990s, the facilities up for sale include Beacon Ridge, a 118-bed skilled nursing facility in Indiana, Pennsylvania, and The Patriot, a 100-bed SNF and 76-unit personal care/independent living community, together licensed to run as a CCRC, in Somerset, Pennsylvania. Both were losing money. There is also a 92-unit personal care community in Johnstown that has been closed, but is still included in the sale. The previous operator, Senior... Read More »
A Webinar Wrap-Up on 2023 M&A Valuations
The SeniorCare Investor recently hosted a webinar titled “2023 M&A Valuations and 2024 Predictions” with moderator Ben Swett, Managing Editor of SCI, Managing Director of Senior Living Investment Brokerage Bradley Clousing, Senior Managing Director and Head of Healthcare Services of Oxford Finance Tracy Maziek, and Principal of Scribner Capital James Scribner. After a chaotic and difficult year, in this webinar, the panelists dissected what exactly happened in 2023, how values changed and what motivated buyer and seller decisions. The webinar kicked off with a review of many statistics available in the soon-to-be-published Senior Care Acquisition Report, starting with how M&A... Read More »
United Methodist Retirement Homes Secures Funding
Ziegler announced the pricing of a bond series closed for The United Methodist Retirement Homes, totaling $67.18 million in Series 2024A and 2024B bonds. The United Methodist Retirement Homes is a North Carolina not-for-profit that owns and operates three CCRCs in the Tarheel State. The three communities consist of a total of 690 independent living units, 28 memory care units, 112 assisted living units and 194 skilled nursing units, which ranks UMRH as the third largest not-for-profit senior living operator in North Carolina. Since 2000, UMRH has been managed by Life Care Services, the third largest operator of senior living communities in the nation. UMRH, with the assistance of LCS... Read More »
JLL Secures Acquisition Financing for Two AL/MC Communities
JLL Capital Markets arranged acquisition financing for two assisted living and memory care communities in Iowa on behalf of affiliates of Jaybird Senior Living. Both communities were managed by Jaybird prior to the acquisition. The communities, Vintage Hills of Indianola and Country Meadow Place, total 118 units combined. Vintage Hills comprises 62 units in Indianola, Iowa, and Country Meadow Place is in Mason City, Iowa, with 56 units. Jeff Lepley and Alex Sheaffer of JLL handled the transaction, securing two loans totaling $17.87 million, or $151,000 per unit, representing around 81% of the total purchase price, putting the purchase price above $22.0 million, or $186,000 per... Read More »
2023 M&A Valuations and 2024 Predictions
Senior care owners, operators, brokers and lenders had to adapt to a rapidly changing lending and M&A landscape in 2023, but what new hurdles (or opportunities) will 2024 bring? Join The SeniorCare Investor and a panel of experts to get a sneak peek of the 2023 M&A valuation statistics and a preview of what is to come in the market. Read More »
National Health Investors Rocks The New Year
Bucking the seasonality trend of January and first quarter blues, two of National Health Investors’ large seniors housing tenants posted increases in occupancy in January. Census at Senior Living Communities increased by 20 basis points in January to reach 83.3%. Meanwhile, Bickford Senior Living posted a 70-basis point sequential increase to 85.3%, matching the highest level it has seen in the past few years. The small SHOP portfolio of 15 communities was where the real growth occurred. January’s 30-basis point sequential increase to 84.7% was nice, but it was also 930 basis points higher than in January 2023. The fourth quarter saw a 420 basis-point sequential increase in occupancy and a... Read More »
Blueprint Facilitates Palmetto Portfolio Purchase
Blueprint facilitated the sale of five seniors housing communities in multiple cities throughout South Carolina on behalf of a court-appointed receiver and at the direction of the lender. Built in the late-1990s, these five communities comprise 334 assisted living and memory care units. Brooks Blackmon, Ryan Chase and Lauren Nagle handled the transaction and procured multiple offers from a series of owner/operators along the East Coast. The ultimate buyer of this regional cluster of assets with value-add upside was Spring Oak, a family office based in New Jersey. Read More »
Kansas AL/MC Community Changes Hands
Blueprint was engaged in the divestment of a seniors housing community in Abilene, Kansas. Blueprint previously worked with the seller in a separate 2023 transaction involving a similar Kansas asset. Abilene Place Senior Living was built in the early 1990s and was well maintained by current ownership, including a recent $400,000 capex investment. The community comprises 58 assisted living and memory care units across one story. We presume this was a former Enlivant property. Amy Sitzman, Giancarlo Riso and Kory Buzin handled the transaction. Blueprint procured multiple offers from active buyers for this sale, with a Kansas-based owner/operator that demonstrated a strong certainty of... Read More »
Blue Moon Capital Partners Sells Asset to Public REIT
JLL Capital Markets arranged the sale of a seniors housing community within the Boston MSA. JLL represented the seller, Blue Moon Capital Partners, and procured the buyer, a public REIT. LCB Senior Living, the in-place operator, will continue to manage the community. Built in 2017, The Residence at Orchard Grove has 80 independent living, assisted living and memory care units in Shrewsbury, Massachusetts. The building comprises three stories and totals 75,000 gross square feet. Jay Wagner, Aaron Rosenzweig, Rick Swartz and Jim Dooley of JLL handled the transaction. Read More »Schedule a demo
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