• Stand-Alone MC Community Trades in Arizona

    Blueprint represented an institutional seller in the sale of its stand-alone memory care community in the Lake Havasu City-Kingman, Arizona MSA. Built in 2009, the asset features 48 units with 60 beds and received approximately $2 million in recent capital improvements. There is opportunity for occupancy growth and rental rate optimization. ... Read More »
  • Clarion Partners Continues Its Acquisition Streak

    Clarion Partners continued on its acquisition streak, adding two communities in California to its growing portfolio. The latest deal featured The Commons on Thornton and The Commons at Union Ranch, two seniors housing communities totaling 198 units in California’s Central Valley. They were previously owned and operated by MBK Senior Living, which... Read More »
  • Multiple Senior Care Acquisition Financings Close

    M&A transactions are getting done at a near-historic pace, and CIBC Bank USA recently financed three deals. The largest was $43.3 million in acquisition financing for two senior care assets in the Nashville area of Tennessee. The properties include a combined 310 independent living units, 273 skilled nursing beds and 93 assisted living/memory... Read More »
  • Olympus Retirement Living Expands

    The Zett Group closed the sale of a 63-unit assisted living/memory care community in the Boise, Idaho market. Set in the town of Emmett, Meadow View Senior Living was trending positively in its operations, but there was still some work to be done. An owner/operator engaged Blake Bozett and Spud Batt to sell the community to an undisclosed buyer.... Read More »
  • Large Senior Care Portfolio Trades Hands

    A portfolio comprising senior care assets across Washington State recently sold with the help of JCH Senior Housing Investment Brokerage. At first, only one of the assets was brought to market, but an offer emerged for the entire nine-facility portfolio. The price for the skilled nursing, assisted living and independent living campuses ranged... 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 »