• 60 Seconds with Swett: Here We Go Again

    AARP just published a report on assisted living, and all I can say is, here we go again. It concludes that “the state of assisted living today is cause for concern for many stakeholders. The lack of national federal standards for care centers creates an underregulated space.” It continues on, stating that the “absence of national oversight,... Read More »
  • Two Seniors Housing Sales Close

    Senior Living Investment Brokerage is continuing on its hot streak this month, closing two additional deals in Alabama and Florida. In the Alabama transaction, Dan Geraghty and Brad Clousing represented a large national owner/operator that was resizing its portfolio to concentrate on its core market. So, the company divested an assisted... Read More »
  • Selectis Health Exits Georgia

    Selectis Health, Inc. has completed its exit from Georgia with the help of Michael Segal and Daniel Waldhorn of Blueprint. In the beginning of the year, Selectis Health divested Providence of Sparta Health and Rehab and Warrenton Health and Rehab to Journey, also with the help of Segal and Waldhorn (more on that deal can be found here). The... Read More »
  • Joint Venture Divests Third Class-A Asset

    Caddis Partners and Singerman Real Estate have divested another seniors housing community, Heartis Fayetteville. This comes shortly after the joint venture’s sale of Heartis Venice and Heartis Longview. Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare represented the seller in all three... Read More »
  • Bonds Issued for Independent Living Expansion

    Ziegler closed John Knox Village’s $47.85 million Series 2026A, B-1, B-2 and B-3 bonds issued through the City of Lee’s Summit, Missouri. John Knox Village (JKV), a Missouri not-for-profit corporation, is a CCRC consisting of 1,038 independent living units, 180 assisted living units and 121 skilled nursing beds. This transaction marks JKV’s... Read More »
Behavioral Skilled Nursing Facility Sells In Tucson

Behavioral Skilled Nursing Facility Sells In Tucson

A unique skilled nursing facility with a sizable behavioral health census sold in Tucson, Arizona, in a deal handled by Evans Senior Investments. Those behavioral beds proved to be quite the boon to cash flow, with their Medicaid rate nearing $300 per day. Apart from them, the facility had several areas to improve on, including its 71% census, 16% quality mix and operational capacity (just 211 of 240 total licensed beds were functional). Operated by Avalon Health Care Group, the 35-year old facility did have the advantage of being located 500 feet away from a 227-bed hospital. Its independent ownership group elected to sell to reinvest their capital. A Chicago-based owner/operator,... Read More »

Summer Sales at Senior Living Investment Brokerage

Senior Living Investment Brokerage ended July with two closings. First, a family owner that had operated a pair of Texas skilled nursing facilities for decades recently decided to sell to an independent owner/operator based in the Waco area for $9.35 million, or about $38,000 per bed. Built in 1978 and 1964, respectively, the 131-bed facility in Pasadena was 88% occupied while the 115-bed facility in Mineola was 78% occupied. Combined, the pair brought in approximately $460,000 in EBITDA on $11.95 million of revenues, so the buyer will look to improve that 4% operating margin. Matthew Alley of Senior Living Investment Brokerage handled the transaction. Mr. Punzel also closed the sale (with... Read More »

Reaching the Pinnacle…deal

Avalon Health Care Group, a Utah-based senior living company with a large presence in the West, entered the Oregon market in a big way, acquiring Pinnacle Healthcare and its 10 skilled nursing facilities in the state. Located in Corvallis, Eugene, Grants Pass, Medford, Roseburg and Woodburn, the portfolio consists of 1,108 beds and will increase Avalon’s footprint to 49 centers with 5,532 beds across seven Western states. The transaction details were not disclosed, but Avalon plans to transfer the lease agreements and begin operating the facilities in early 2017. Read More »