• Midwest Developer Acquires in Georgia

    by | May 1, 2024 9:21 am | Acquisitions

    Daniel Geraghty and Brad Clousing of Senior Living Investment Brokerage represented a group of EB-5 investors in the sale of their 70-unit assisted living/memory care community in Georgia. Located in the town of Sharpsburg, a growing market between Newnan and Peachtree City southwest of Atlanta, the community was built in 2021 and was in... Read More »

  • Cincinnati Owner/Operator Divests SNF

    by | May 1, 2024 9:19 am | Acquisitions

    Blueprint was brought on by a local owner/operator in its divestment of a 30-bed skilled nursing facility built in 2013 with all private beds in Cincinnati, Ohio. Located near a hospital, the facility was in great shape and only accepted Medicare and private pay residents.  The seller divested to recycle capital and pay down maturing debt... Read More »

  • Real Estate Agent Purchases A RCFE Community in California

    by | May 1, 2024 9:17 am | Acquisitions

    Sherman & Roylance facilitated the sale of a purpose-built, six-bed RCFE community in Sonoma, California, with all private units. The purchase price was $1.75 million, or $290,000 per bed. The seller divested because it is consolidating its portfolio.  The buyer was a real estate agent, and this is their first acquisition in the... Read More »

  • 60 Seconds with Swett: The Development Dilemma

    by | May 1, 2024 9:16 am | 60 Seconds, Developments

    The difficult thing about development right now is that it is both a very tough time to build because of higher capital costs but also may be the time that many developers and investors need to start projects. We know, easy for us to say, especially as the Fed signals that rates are likely to stay high for longer and as the 10-year Treasury rate... Read More »

  • EBSC Provides Financing for Michigan Asset

    by | Apr 26, 2024 3:55 pm | Financings

    EBSC Lending provided $26.2 million in financing for an affordable seniors housing community in Michigan. The borrower is a not-for-profit owner/operator with experience in hospitality that will use the proceeds to refinance existing debt and fund capital improvements. Specific upgrades will target unit interiors, building exterior, elevators,... Read More »

Pay the rent

by | Nov 13, 2015 8:31 am | Acquisitions

After recently acquiring three skilled nursing facilities in Kansas (two of which were turnarounds), Birchwood Health Care Properties acquired another skilled nursing facility in need of some care, this time in Huntington, West Virginia. The facility, which includes 41 skilled beds and 17 assisted living units, was originally built in 1928 but was renovated in 2009. And despite having a stabilized occupancy at 90%, it was losing money. This was the only senior care asset of the owner, who decided to sell the facility when their operator tenant stopped paying rent and filed for bankruptcy. Enter Birchwood, which purchased the facility for $3.2 million, or $55,200 per bed/unit and brought in... Read More »

Birchwood Health Care Properties expands in Kansas

by | Nov 5, 2015 3:50 pm | Acquisitions

Nick Cacciabando of Senior Living Investment Brokerage had a busy end to October, representing the seller in three Kansas SNF sales to Birchwood Health Care Properties, which included a couple of turnaround opportunities. First, together with Ryan Saul, Mr. Cacciabando represented a private owner/operator in the sale of their 96-bed skilled nursing facility in Wichita, Kansas for $1.25 million, or $13,000 per bed. Although located in a major MSA in Kansas, this will be a difficult turnaround for the buyer. Built in 1968, the facility was just 67% occupied with a 92% Medicaid census, 6% Medicare and 2% private pay. Plus, it was losing more than $600,000 a year on $3.2 million of revenues.... Read More »